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  • Korean Mobile Phone Makers See Slumping Exports
  • June 30, 1998 (SEOUL) -- Korea's major mobile phone makers are suffering significant declines in exports.
    LG Information & Communication Ltd. (LGIC) and Hyundai Electronics Industries Co., Ltd. have yet to receive their first export orders this year, and Samsung Electronics Co., Ltd. has exported only a small volume of cellular phones to the United States, according to company sources.

    Domestic phone manufacturers, which increased their export goals due to the popularity of CDMA-digital technology and the depreciation of the Korean currency, are expected to adjust their targets downward.

    LGIC, which exported 300,000 cellular phones last year, set this year's goal at 2 million units, while Hyundai Electronics is hoping to sell 500,000 units abroad.

    Samsung Electronics has exported 1.2 million cellular phones, as compared with a target of 3 million units for this year.

    The manufacturers attribute the slump in exports to a sharp reduction in investments by Central and South American countries, as well as curtailed purchases by Southeast Asian countries, which would otherwise be major cellular phone consumers.

    Industry watchers said that the global CDMA (code division multiple access) market is still relatively small compared with the TDMA (time division multiple access) market.

    (Maeil Business Newspaper, Korea)


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    Updated: Mon Jun 29 16:01:18 1998