Samsung's European Stategy

Samsung, Korea's largest conglomate, will launch a three point strategy for expanding its European market. A Chosun Ilbo article pointed out that Samsung officals will take specialized approaches to different European regions. Samsung's new plan seeks to target the consumer market in Western Europe, developing a production base in Eastern Europe, and aquire a natural resources procurement base in CIS countries. Samsung announced the plan to adopt the new strategies at a conference for the presidents of its electronics-related firms held in Budapest, Hungary.

One outcome is to boost Samsung's sales in Europe over next year by 25 percent . The 2004 goal is $20 billion. A key strategy for Samsung is to move all its plants, now scattered across Europe, to Eastern Europe.

Six electronics-related companies of Samsung Group -- Samsung Electronics, Samsung SDI, Samsung Electric, Samsung Corning, Samsung SDS and Samsung Networks operate at a total of 46 locations in 16 European countries.

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