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Tue 4 Feb 2003 04:00 AM

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Is Samsung the real #1?

D E Lim, senior manager at Samsung Middle East & Africa, disputes LG's claim that it is the region's number one in consumer electronics.

Samsung today (Feb 4) disputed LG’s claim, made yesterday, that it is the ‘#1 Electronics Company in Middle East & Africa.’ Speaking to ITP.net, D E Lim, senior manager, Samsung Middle East & Africa (MEA) reconfirmed an earlier prediction that Samsung MEA’s turnover reached $1.4 billion in 2002. That would comfortably exceed the US $1.15 billion in 2002 MEA turnover that LG reported on Monday, when it made its claim to regional supremacy. “The really great news is that we are now undoubtedly the region’s leading consumer electronics supplier, a claim we make after studying the product breakdown of our competitors’ performances,” said M B Shin, president, LG Electronic Middle East & Africa (MEA), at the announcement.Today, Samsung responded.“I do not agree with that,” Lim told ITP.net. “$1.15 billion might be correct, but they are not the number one [electronics] company in the Middle East & Africa. Our turnover in the Middle East & Africa was over $1.4 billion."Lim confirmed that Samsung is seeking to grow its sales revenue by 30-40% in 2003.

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