Samsung targets US$10 bln in home appliance sales

SEOUL, Jan. 13 (Yonhap) -- South Korean electronics giant Samsung Electronics Co.
said Tuesday it aims to increase its home appliance sales by more than 50 percent
this year by focusing on high-end products.

Samsung is targeting about US$10 billion in sales of home appliances in 2009, up
54 percent from an estimated $6.5 billion for last year, Choi Jin-kyun, vice
president for home appliances, said at an event introducing new products.
"Due to market instability, I cannot give exact figures. However, I cautiously
believe that this year's home appliances sales will likely top $10 billion," he
said.
Samsung, which also produces chips and cell phones, is slated to announce its
fourth-quarter and full-year earnings later this month.
In order to achieve this year's sales goal, Choi said, the company will double
efforts to tap overseas markets. "The domestic market is almost saturated. In
order to increase our sales, we need to go out to the overseas markets."
Samsung will also focus its marketing on premium products, such as a kitchen
package that offers an assortment of kitchen appliances, including a microwave
oven and refrigerator, he said.
According to the company, kitchen appliances account for about 35 percent, or $70
billion, of the $200 billion global home appliances market.
ygkim@yna.co.kr
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