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Reuters | Wednesday, 18 June 2008
South Korean cellphone makers and Swedish-Japanese rival Sony Ericsson forecast robust handset sales, defying worries that a slowing US economy and record oil prices will hurt consumer demand.
LG Electronics, the world's fourth-largest phone maker, said it expected second-quarter handset sales to grow 20 per cent from the first quarter, while no. 2 Samsung Electronics maintained its 2008 handset sales target.
No. 5 player Sony Ericsson also struck a bullish note, citing a return to normal inventory levels after a slow start to the year.
"There are some obstacles in the worldwide economy, like high oil prices, but our sales have been steady and we expect our second-quarter sales to rise 20 per cent from the first quarter," Jae Bae, president of LG's Mobile Communications division for southeast Asia, told Reuters in an interview.
"We are very confident of achieving our sales target of 100 million phones this year and we will aim to exceed that target."
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[ This Message was edited by: carkitter on 2008-06-20 10:56 ]
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Posted: 2008-06-20 11:56:04
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