Samsung guns for Nokia, targeting 30% European phone share
Samsung's Wave will spearhead a bid for 15% sales growth in Nokia's heartland
Published: 3 March, 2010
READ MORE: Europe | Samsung | Application Environment | Handset
Continued ...
"We like to grow, and the initial signals from the beginning of the year, from January and February, are that we are in a good position to do so. We are looking for around 15% growth in the European market," Shin said in the interview. He added: "We will sell more handsets in Europe in 2010. We expect two-digit growth, both in sales volume and in revenue."
Overall last year, Samsung Europe booked overall sales growth of 15% in local currencies. But because of the weakening of the euro against the dollar, in which Samsung reports its earnings, sales rose just 5% to just over $20bn, or almost 30% of the group total. To counteract continued weakening of the euro and the pound against the dollar during 2010, Shin said Samsung would need to be "vigilant" in pricing policy and cost control. He did not expect margins to fall in Europe during 2010 despite currency fluctuations.
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