Samsung scaled back its sales forecast for the year, based on global economic woes. But the handset and electronics maker said it expects profit to increase, based on strong demand for its memory chips, flat-panel displays and mobile handsets.
“Global economic uncertainty will continue this year, affecting our management conditions,” said CEO Yun Jong-yong, during the company’s annual shareholder meeting.
In January, Samsung originally predicted sales would grow 15% this year, but has lowered its target to a more cautious 10%.
Samsung reported $63.97 billion in sales on a consolidated basis for 2007, with a net profit of $7.52 billion.
Consumers have become increasingly sophisticated and are demanding easier access to a broad array of financial services.
Historically, carrier focus has been on attracting new customers, but now the market is reaching saturation.
