Samsung Elec raises mobile phone sales target-report

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SEOUL, Nov 13 (Reuters) Samsung Electronics Co Ltd <005930.KS> raised its mobile phone sales target for the current quarter by 10 percent as the world's No.2 handset maker expands in both the premium and low-end markets, a local newspaper said on Tuesday.

The Korea Economic Daily quoted a senior official at the company as saying Samsung lifted its fourth-quarter mobile phone sales target to 50 million units from the previous 45 million.

Samsung, which trails mobile phone leader Nokia , is expecting its global market share for handsets to be 14.5 percent this year after hitting 11.4 percent last year. It is aiming for a 20 percent global market share next year, the paper said.

''Handset sales are rising sharply during the fourth quarter in the world's major markets as we sold 16 million units in October,'' the unidentified official was quoted as saying in the paper's early Wednesday edition.

''We may exceed our previous sales target for this year of 160 million units by some 17 million,'' the official added.

Samsung's spokesmen declined to comment on the report.

''We have an internal target but it's not the right time to disclose it to the public,'' a spokesman said.

In October, Samsung said it expected the global mobile phone market to grow more than 10 percent in the fourth quarter from the third.

On Monday, its smaller rival LG Electronics Inc <066570.KS> told Reuters it was raising its forecast for 2007 handset shipments and projected a stronger 2008. [ID:nL12616602] Shares in Samsung ended flat at 532,000 won, underperforming a 0.49 percent rise in the broader market <.KS11>.

But LG closed 3.29 percent higher at 100,500 won.

REUTERS BJR DS1603

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