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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Samsung bets on LCD TVs despite downturn Mon May 18, 2009 8:20am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Marie-France Han and Rhee So-eui SEOUL (Reuters) - Samsung Electronics, the world's top TV brand, aims to outperform the overall flat-panel television market's growth this year, thanks in part to its newly launched LED models, a senior official said. "2009 won't be an easy year but we plan to maintain market leadership with new products such as LED TV," said Sue Shim, senior vice president in charge of sales and marketing at Samsung's Visual Display division. "(Our market share) will go up." Samsung, which is also the world's biggest maker of memory chips and No. 2 maker of mobile phones, had 19 percent of the global liquid crystal display (LCD) TV market in the first quarter. "The downturn in the market doesn't seem as severe as expected and we were able to outperform the market's growth (in the first quarter)," Shim told the Reuters Global Technology Summit in Seoul. A spokeswoman for the company, which has been cautious about the outlook for all its businesses, said Samsung is maintaining its sales target for LCD TV sets set in 2009 at 22 million, up 10 percent from 2008. That target is below DisplaySearch's forecast of a 15 percent growth in the global LCD TV market, but Samsung will strive to post higher growth and expand market share, according to Shim. Shim said Samsung had several sets of targets, including a best-case scenario, but declined to give details. Samsung competes with Japan's Sony, home rival LG Electronics and Amtran's Vizio brand. Thanks to bargain-basement prices and consumers eager to upgrade from clunky cathode-ray tube TV sets, the flat-screen TV segment has performed strongly despite the global economic downturn, which has sapped consumer demand for most other types of electronics. "People are giving up eating out and traveling in the midst of this downturn," Shim said. Instead, they are putting more emphasis on activities inside their homes. Shim is a marketing veteran who worked for Procter & Gamble for 17 years before joining Samsung in 2006. NEW FOCUS ON LED One key to future growth and market leadership for Samsung are the latest LCD televisions models using light-emitting diodes (LED) as light source, instead of bulkier and less energy-efficient cold cathode fluorescent lamps (CCFLs). "LED TV has a vivid picture quality, a slim design and is eco-friendly. It saves about 40 percent of energy when compared to a traditional LCD TV of the same size," Shim said. "After four years of using an LED television, the costs savings alone would be as much as the price of a 30-inch-grade LCD model." Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Nokia unveils its cheapest 3G phone Reuters Global Technology Summit Who will come out on top? Technology companies are drawing attention from investors and consumers alike as everyone tries to predict the market bottom and what new inventions might drive a recovery. Full Coverage More Technology News Nokia unveils its cheapest 3G phone AT&T to offer cloud-based storage as a service GM stakes virtual property in case of bankruptcy South Korea tries recharging road to power vehicles Antarctic team boosts medical care with 3D ultrasound More Technology News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. Slideshow Most Popular on Reuters Articles Video Lars von Trier film "Antichrist" shocks Cannes Earthquake shakes Los Angeles area Sri Lanka wins civil war, says kills rebel leader | Video UPDATE 2-New Tom Hanks thriller fails to crack 'Code' Clouds on horizon for "American Idol" juggernaut? 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