December 06, 2001 in Social Responsibility News

SAMSUNG Electronics Making Inroads into Chinese Semiconductor Market

SEOUL, Korea - December 6, 2001 - Companies from all over the world are flocking to China to secure a position in what will become the world's largest IT market in the 21st century. Determined to be a front-runner here, Samsung Electronics has announced the establishment of Shanghai Samsung Semiconductor Co. (SSS), a subsidiary that will specialize in marketing semiconductors and TFT-LCDs. The company has named Managing Director Jung Bong-jin to serve as the first CEO at SSS. The wholly owned subsidiary has been initially capitalized at US$1 million.


Shanghai Samsung Semiconductor is located in the Shanghai WaiGaoQiao Free Trade Zone of Shanghai. The company is staffed by fifteen marketing specialists who will concentrate on semiconductor and TFT-LCD sales.


Demand for technologically sophisticated parts and components has been weak in the past, but recently major world players in the IT industry such as Hewlett-Packard and IBM have set up local operations in China. Now that China has joined the WTO, the domestic IT market is expected to surge. Industry analysts predict that the Chinese semiconductor market will record a compound annual growth rate of 17%, from US$13.6 billion this year to US$26 billion by 2005. Importantly, annual TFT-LCD sales are forecast to average a whopping 97% annual growth rate over the same period, from 1.97 million units in 2001 to 29 million units in 2005.


Having officially launched Samsung Shanghai Semiconductor, Samsung Electronics has set US$130 million as its goal for semiconductor and TFT-LCD sales in China in 2002. The professional sales staff will be expanded considerably in the future so that annual sales of at least US$700 million can be achieved in 2005.


About Samsung Electronics
Samsung Electronics Co. Ltd. is a global leader in semiconductors, the consumer electronics industry, and digital convergence technology. The company employs approximately 66,000 people in 46 countries. Samsung Electronics is the world's largest producer of memory chips, TFT-LCDs, CDMA mobile phones and monitors and the fourth-largest manufacturer of mobile phones. Samsung Electronics consists of four main business units: Digital Media, Semiconductor, Information & Communications, and Home Appliance Businesses. For more information, please visit the web site, http://samsungelectronics.com


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