By Peter Conmy
Samsung has declared record-breaking half-yearly profits, far outstripping last year's performance and hopes are high for even greater success.
Samsung Electronics is reaping the benefits of a sweeping US $2 million advertising campaign and is enjoying a huge growth surge in the Middle East.
The Korean electronics giant, a major sponsor at next months Olympic Games in Sydney, has announced half-yearly sales have increased by 40% on the corresponding period last year.
Turnover for Saudia Arabia alone is up 20% while sales volume for the Middle East has increased by 28% on the first half of 1999.
“The figures are outstanding – and we expect the results for the second half of 2000 to be even better,” said DK Byeon, Samsung Gulf Electronics general manager.
“Our performance has been strong across the spectrum, but we have done particularly well with our range of mobile phones and high-end TVs.”
Byeon believes revenue will top US $800 million for 2000, especially as big things are expected of the WAP (Wireless Internet Protocol) mobile phone through which users can access the Internet.