Challenging outlook for Samsung Electronics?
Samsung Electronics has predicted a challenging business outlook due to growing competition. Despite this, the South Korean memory chip manufacturer said it still aimed to achieve record profit this year.
In an announcement at Samsung's annual general meeting, the company's chief executive, Choi Gee-sung, pictured, said: "2011 will be a challenging year for electronics companies as intensifying competition continues to put pressure on profit margins. Samsung will strive to maintain its sales growth momentum from last year and achieve new records in operating profits."
According to Choi, the company will continue to aggressively enter new business areas such as health and medical equipment.
In 2010, the company reported 155trillion won ($136.7billion) sales and 17.3trillion won in operating profit.
