Samsung Electronics Co, one of the world's largest mobile phone makers, raised its forecast for 2005 worldwide handset sales thanks to better-than-expected shipments by its competitors during the first quarter.
Industry shipments are now expected rise to between 700 million and 720 million units this year, said Samsung spokeswoman Cho Sung In, confirming Dow Jones Newswires report that cited telecommunications vice president Daniel Chung.
Samsung had forecast on April 15, before companies such as Nokia and Motorola announced first-quarter results, that industry sales would rise 6 percent to 700 million units this year.
The South Korean company joins market researchers such as Gartner Inc. in becoming more optimistic about handset sales. U.S.-based Gartner last week raised its 2005 projection for mobile phone shipments to 750 million units from a previous forecast of 720 million units.
Samsung was sticking to an earlier projection that its mobile phone profit margins would rise in the third quarter, fuelled by sales of new models in Europe, after falling in the second quarter, when margins would be at least 10 percent, Ms. In said. (Malaysia Star, Bloomberg)
to Daily News