Samsung expecting sales surge

Electronics firm confident about financial performance

Samsung has made substantial investment in its semiconductor divisions

Samsung told shareholders today that it expects to see double-digit revenue growth during 2010, according to media reports.

The company's new chief executive Choi Gee-sung was quoted as saying that the economic climate “is likely to sustain its growth momentum this year, helped by economic stimulus measures taken worldwide”.

However, the firm’s boss warned its investors at a conference in its Seoul headquarters that increased competition will toughen its business outlook.

"There are business uncertainties including foreign-exchange rates, but we aim to achieve double digit sales growth and operating profit of more than the 2009 level by improving cost competitiveness and increasing market share," he said, according to Reuters.

It is believed that Samsung will focus on a portfolio of advanced products and technologies during 2010 in areas ranging from health to energy, in addition to substantial investment in its semiconductor and liquid crystal display divisions, which are key business areas for the company.