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Samsung Electronics Co. said that it set a U.S. $10-billion sales goal for its flash memory chips next year and made them the company's new growth engine.
The decision was made at a special strategy meeting, presided over by Chairman Lee Kun-hee, where senior company officials reviewed products with next-generation growth potential, according to officials.
"Samsung will intensify efforts to develop the flash memory chip as its new growth engine because it is expected to enjoy a golden period over the next five or 10 years," a Samsung official said.
Samsung Electronics is attempting to offset a reduction in profit from sales of dynamic random access memory (DRAM) chips. It aims to control the largest share of the overall flash memory chip market.
The company also plans to bolster its semiconductor complex in Hwaseong, south of Seoul, into a production center to prepare for its leap into global competition.
The company had decided to convert its assembly line in Giheung, south of Seoul, to flash memory chip production in addition to two other lines already in operation.
Samsung's monthly sales of NAND-type flash memory chips has increased to more than $130 million due to the growing market for personal digital assistants (PDAs) and mobile phones supporting video and USB (universal serial bus) drives.
Company officials are hoping that the focus on flash memory chips will give Samsung an advantage in the NAND market.
NAND chips, which can retain data even without an external power source, are an integral part of 3G information gear, digital appliances, and other high-tech gadgets. (Yonhap, Asia Pulse)
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