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Samsung Raises Sales Target To $20mm

ImageA senior Samsung Electronics executive recently increased its 2009 sales target for the Middle East to $20 million.  Peter (Ju Sun) Lee said their original sales target for the Middle East Hospitality TV business was $10 million and they have recently raised that to $20 million.  Mr. Lee said for the first half of this year they expect to sell Hospitality TV’s worth $5 million to the hotels in the region.

Samsung revenues for its Hospitality TV business have fallen due to the economic slowdown.  Last year they made $13 million worth of sales of Hospitality TV’s .  Mr. Lee said the recession has affected the Middle East and Africa, “but we expect that liquidity will come back to the Dubai market sooner than expected.”

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