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By | Team Register 28th February 2005 15:32

Samsung glum on year ahead

But sticks to guns on forecasts

Samsung Electronics warned shareholders yesterday that its prospects for the year ahead were less than stellar due to both global and domestic economic uncertainty.

Reuters reported that the Korean electronics giant’s vice chairman, Yun Jong-yong, said the company faced “big risk factors going forward” and “the outlook for our key businesses is not good.”

Those key businesses include DRAM, LCD panels and mobile phones, all of them markets where ever increasing demand offers little protection from a peaks and troughs pattern on capacity and pricing.

Despite the downbeat assessment of the year ahead, the company reiterated its forecasts for this year which call for sales of 58.7 trillion won ($58.2bn) and net profits which best last year’s 10.79 trillion won. $reg;

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