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Samsung raises forecast for 2004 cellphone sales

Samsung Electronics Co, the world's third-largest mobile-phone maker, raised its forecast for phone sales this year on higher-than-expected global demand spurred by consumers wanting color screens and cameras.

Samsung will probably sell more than the 65 million units it forecast in January as global mobile-phone sales rise to about 560 million to 570 million units, said Lee Ki-tae, president of Samsung's telecommunications business. That's about 10 percent higher than the 510 million units the company forecast in January.

As consumers replace phones for models with color screens and cameras, market researchers such as Gartner Inc have raised their industry projections. Global phone sales will increase 12 percent this year to 580 million units, Gartner said last month, raising its earlier projection of 560 million. Some investors aren't surprised Samsung raised its forecast.

Lee, who spoke at a luncheon with reporters in Seoul, said the company's handset sales outlook is "better than we anticipated" and declined to specify its revised sales forecast because it will be announced next week when Samsung presents first-quarter earnings.

Samsung's revised forecast comes two days after Nokia Oyj, which accounts for almost two of every five handsets sold worldwide, said first-quarter sales unexpectedly shrank 2 percent after it lost market share to competitors.
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