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Samsung to Boost Sales in Latin America
Mar 3, 2005
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Samsung Electronics vowed to make aggressive inroads into the Latin American market, as the South Korea-based company announced several new products at the 2005 Samsung Latin America Consumer Electronics Forum on Feb. 26-28 in Panama City, Panama.

Products on display included an 80-in plasma display panel (PDP) TV, flat panel SlimFit TVs, digital camcorders, Yepp MP3 players, and white goods, such as nano-silver electric washers, side-by-side refrigerators, and air-conditioners.

"Our goal for 2005 is to expand our presence in Latin America, emerging as the top brand not only in the information technology sectors, such as mobile phones and computer monitors, but also in white goods, audiovisual devices, and digital appliances," said Park Jong-won, vice president of Samsung Electronics in charge of sales in Latin America.

"We are aiming for U.S. $700 million in sales in the Latin American audiovisual appliance market this year, a 50-percent increase from last year," Mr. Park said.

In 2004, Samsung dominated 35 percent of the Latin American monitor market and 38 percent in the hard disk drive (HDD) market.

In Chile, the first country to sign a free trade agreement with South Korea, Samsung took the greatest market share in eight consumer electronics items, including color TVs, digital versatile disc (DVD) players, digital camcorders, side-by-side refrigerators, and microwave ovens.

Samsung currently operates a monitor plant, a mobile phone production facility, and HDD and color TV plants in Brazil to meet the growing consumer demand in Latin America. (The Korea Times)

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