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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared New password-stealing virus targets Facebook 17 Mar 2010 Factbox: Details of final healthcare bill | Video 12:03am EDT Viacom, Google accuse other of YouTube hypocrisy 18 Mar 2010 Once bitten by Apple, telcos warier with iPad 18 Mar 2010 Scientists hide gold with 3D "invisibility cloak" 18 Mar 2010 New password-stealing virus targets Facebook 17 Mar 2010 Polar bear, bluefin tuna trade bans rejected | Video 18 Mar 2010 Once bitten by Apple, telcos warier with iPad 18 Mar 2010 Factbox: Details of final healthcare bill | Video 12:03am EDT Drive a Porsche? Up your status with a phone 17 Mar 2010 Samsung, LG see growth, but know rivals are catching Miyoung Kim and Rhee So-eui SEOUL Fri Mar 19, 2010 4:04am EDT Related News UPDATE 2-Samsung eyes 2010 profit rise, double-digit sales gains Thu, Mar 18 2010 Samsung Elec targets double digit 2010 sales growth Thu, Mar 18 2010 CORRECTED - CORRECTED-LG Elec launches Android-based smartphone in Korea Tue, Mar 9 2010 SEOUL (Reuters) - Technology powerhouses Samsung Electronics and LG Electronics reinforced market optimism that strong demand recovery is in place, while cautioning that competition from global rivals is heating up. Technology | Media The comments from Samsung, the world's top maker of LCD flat screens and memory chips and the No.2 mobile phone maker, come as the firm is forecast to report record profit this year, with its key businesses benefiting from an improving global economy. Both Samsung and LG have won market share from Japanese companies such as Sony Corp and Sharp to emerge as global brands, but rivals are restructuring and beefing up their product line-ups. "Japanese firms are sure to aggressively tackle this (market share loss)... and aggressive counter-marketing by Samsung may weigh on its margins," said Kim Young-june, an analyst at LIG Investment & Securities. Samsung last year overtook Hewlett-Packard Co as the world's biggest electronics firm by sales, with revenue of $121 billion. Samsung competes with Finland's Nokia and LG in mobiles, Hynix and U.S. Micron Technology in memory chips and Sharp and Sony in flat-screen televisions. Samsung and LG together control more than 30 percent of the global mobile market, but their share in the booming smartphone market is below 5 percent. On average, analysts have raised their 2010 profit forecast for Samsung by 9 percent over the past three months, Thomson Reuters data showed. Expectations for Sony have also improved with narrower losses forecast, while the consensus for LG has been cut by 12 percent. Samsung's entry into semiconductors three decades ago has helped the conglomerate grow from a sugar maker and trader into a global powerhouse in consumer technology and chips. At shareholder meetings on Friday, both Samsung and LG pointed to lingering market uncertainties as major economies unwind stimulus measures and the South Korean won currency strengthens, which may hurt pricing against Japanese products. Heavy investment by sector leaders has also raised oversupply concerns in flat panels and chips. "Our competitors have strengthened their capability and some have completed restructuring... They are racing ahead to rival us and this will increase competition and toughen our business outlook," Choi Gee-sung said in his first meeting with shareholders after becoming Samsung chief executive in December. Sony, which is falling behind both Samsung in LCD TVs and Apple Inc's iPod in portable music, reported a first profit in five quarters last month as a restructuring at the Japanese electronics maker starts to pay off. Samsung shares ended up 0.9 percent, while LG edged up 0.5 percent in a broader market up 0.7 percent. EXPECTATIONS PRICED IN Samsung is targeting a higher operating profit and double-digit growth in sales in 2010, fueled by strong demand for its flat screens and memory chips. The forecast was in line with market estimates. Samsung is expected to report a 14 percent rise in 2010 sales to 155.4 trillion won on a consolidated basis, and a 42 percent jump in operating profit to 15.5 trillion won this year, according to Thomson Reuters I/B/E/S. The Samsung Group accounts for a fifth of South Korea's annual exports. A firmer won is a risk for South Korean exporters. The currency has risen 3 percent against the dollar this year after gaining 8 percent to the dollar and 11 percent to the Japanese yen in 2009. Analysts say the two Korean firms face key challenges in a potential LCD sector slowdown in the second half and relatively weak smartphone offerings. On Friday, nearly 500 firms held their AGMs in and around Seoul, a practice that began decades ago as an attempt to block activist shareholders from gatecrashing many meetings. In the past, some shareholders have used AGMs to demand higher dividends and changes in corporate structures. Samsung's meeting, complete with orchestral music and heavy security at the firm's new offices, went off smoothly, with a number of shareholders praising management. "Samsung achieved great results and improved its brand image when the economy is in bad shape, and it warmed the hearts of many shareholders," shareholder Choi Kyung-ja read from a prepared statement, asking investors to approve a proposal to increase executive pay. ($1=1127.8 Won) (Additional reporting by Shin Jieun, Christen Kim and Jungyoun Park; Editing by Jonathan Hopfner and Anshuman Daga) Technology Media Add a Comment More from Reuters EU seeks firm Greek aid plan BRUSSELS/ATHENS (Reuters) - The European Union's monetary affairs chief urged the bloc's leaders on Friday to agree a standby aid package for Greece next week but France and Germany struck different notes and the euro slid. Palm's survival questioned Greece close to being unable to borrow: PM European Union mulls emergency bank wind-up fund Hoyer: House will pass healthcare reform bill Obama backs "framework" to revamp immigration » More Top News Healthcare Reform: The final push ... President Obama is making a last-ditch push for healthcare reform, with the success of his presidency riding on the outcome. Full Article | Video Hoyer: House will pass reform bill Graphic: Projected effects of reform Document: Amended health bill Factbox: Winners and losers Healthcare Reform John Kemp: Be careful what you wish for The yuan debate is exposing dangerous illiteracy among policymakers: Despite the jobs boost for Americans, it would also cut our living standards. How? Commentary China tries to cool U.S. yuan dispute Factbox: Hints of divisions in China Currencies © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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