Samsung eyes $68 billion in sales for 2007

Korea's Samsung Electronics Co. Ltd increased its sales target to $68 billion, up 8 percent from 2006, amidst external risks and domestic uncertainty in 2007, according to a report from The Korea Herald.

Yun Jong-yong, CEO of Samsung Electronics, said in the company's annual shareholders' meeting in Seoul that they aim to hit $8.3 billion in net income this year, equaling that of 2006. To achieve this, the company will develop high-value added products in the home appliances and audio-video sector.

"Despite all the challenges such as North Korea's nuclear experiments and a global economy hurt by high oil prices, we posted net income of $8.3 billion last year thanks to large growth in LCD sales... Our brand value was $16.1 billion, ranking 20th in the world," Yun had said.