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Samsung eyes record operating profit in 2011

South Korean tech giant Samsung Electronics Co. said Friday that it aims to post a record operating profit for the whole of 2011 by cementing its leadership in existing businesses.

   "Competition among companies will intensify this year but we will try to extend revenue growth from last year and post a record-high operating profit," Choi Gee-sung, Samsung's chief executive officer, said in a statement.

   Samsung posted an all-time high in operating profit at 17.3 trillion won (US$15.3 billion) in 2010. Its revenue also stood at a record high of 154.63 trillion won.

   The world's top memory chipmaker set its target amid mounting worries that Japan's devastating earthquake and instability in the Middle East may derail the pace of global economic growth.

   Samsung expects to consolidate its lead in its mainstays:

semiconductors, liquid crystal display (LCD) panels, mobile phones and TVs, the statement said.

   It will make an aggressive push into new businesses, with a focus on solar batteries and medical equipment in particular, it added. (Yonhap News)

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