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Samsung to Supply Printers in Europe
Samsung
Electronics, which sees its printer business as its prime growth engine
in the long run, has taken meaningful steps in that direction by
striking a deal with larger corporate clients in Europe to supply
40,000 high-speed laser printers.“We won a contract to supply a
cumulative 40,000 tailored high-speed printers to government agencies
and financial institutions in Europe and Southeast Asia,’’ a company
spokesperson said on Monday.Samsung will supply 14,000
medium-speed ML-3051ND laser printer units to Federal Pension Fund in
Russia, while 12,000 will go to the Venice regional government in
Italy. Samsung said 5,000 ML-3472NDK medium-speed printers will be go
to France’s job agency, while 2,000 units and 1,000 units are destined
for the Thailand policy agency and Malaysian policy agency,
respectively.“We have also agreed to offer a combined color printer,
scanner and fax machine unit to financial institutions in Southeast
Asian countries including Singapore and Malaysia,’’ the official
added.Samsung’s printer business has been growing 38 to 40 percent
annually over the past few years, compared with an industry average of
3 to 4 percent, according to the company.The printer business, however,
still accounts for a meager 3 percent of the company’s total sales.
Samsung hopes the printer business will rise 25 percent to reach around
$2.5 billion in revenue by the end of the year from $2 billion last
year.Samsung is still sticking with its marketing strategy in Southeast
Asia, Australia and New Zealand as these countries take up some 5
percent of the company’s revenue. More recently, however, the company
revised its target upward to 10 percent.After announcing rather upbeat
third-quarter earnings in mid-October, Chu Woo-sik, head of Samsung
Electronics’ investor relations team, told reporters that Samsung will
be ideally positioned for maximum strength and profit from new growth
engines such as the printer business.
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