Komt alles zusammen - die harten Kursrückschläge zuletzt, der gesamtmarkt in Asien stieg heute kräftig (Thailand, Taiwan, Südkorea alle um +5%) .... und vom Unternehmen selbst hört man wie gewohnt nur Gutes
UPDATE - Samsung bullish on handsets, sees
DRAM shortage
Wednesday May 19, 5:25 am ET
By Jean Yoon
(Adds analyst, DRAM profit forecast)
SEOUL, May 19 (Reuters) - Samsung Electronics Co Ltd (KSE:005930.KS - News), the
world`s top memory chip maker, said on Wednesday it expected a shortage of the chips
throughout 2004, with inventories at low levels and supply constrained.
Samsung, which is also the world`s third-largest mobile phone producer, said it
expected to sell more handsets in the second quarter after shipping a record 20.1
million in the first quarter, driven by U.S. and Asian demand.
Smaller handset rival LG Electronics Inc (KSE:066570.KS - News) also offered an
upbeat outlook, saying it predicted its cellphone profit margins would improve in the
second quarter, helped by a rise in shipments and sales of high-end handsets such as
third-generation models.
The growth of the Korean phone makers has come at the expense of market leader
Nokia (NOK1V.HE), which has seen its market share fall below a third.
"A DRAM supply shortage will surely help boost Samsung`s profits," said Chin
Yeong-hoon, analyst at Daishin Securities. "We expect the DRAM market to grow to
$26.4 billion this year from $16.7 billion last year thanks to strong DRAM prices."
Shares in Samsung, the world`s most valuable technology company outside the United
States, closed up 5.6 percent at 500,000 won, outperforming a 4.85 percent rise in the
broader market (KSE:^KS11 - News). LG Electronics was up 9.42 percent at 63,900
won.
Prices of dynamic random access memory (DRAM) chips, used mainly for computer
memory, have soared since the start of the year on tight supply as chip makers switch
to making flash memory and hit problems introducing new production technology.
"The supply limit is causing stable DRAM pricing in a slow season," Samsung said in a
copy of a presentation for a global investor conference organised by Samsung
Securities, which was obtained by Reuters.
The chip shortage was a key reason for Samsung`s near tripling of profits in the first
quarter, along with buoyant handsets and flat-screen businesses.
"A DRAM shortage will prevail in 2004. The market inventory is low and supply is
constrained," the presentation said.
Daishin Securities forecasts Samsung will report an operating profit of 3.8 trillion won
($3.2 billion) from its DRAM business in 2004, more than double the 1.7 trillion in 2003.
PREMIUM PRICES
The price of industry standard 256-megabit chips rose 43 percent in the first three
months of the year to $5.29, according to chip broker DRAMexchange.com.
"Contract price has increased for four months including May," Samsung said in the
document.
Samsung charges a 10-20 percent premium for its chips over rivals because of its
higher quality and long-term contracts with a broad customer base, analysts say.
Samsung said it expected to raise its annual mobile phone shipment target for 2004,
currently set at 65 million units, although the company noted pressure on average
selling prices was rising in some markets.
Samsung`s record performance contrasts with downbeat forecasts from Nokia
(NOK1V.HE).
Nokia shares have slumped to around their lowest levels in more than five years after
data from research group Strategy Analytics showed Nokia`s market share fell to 29.2
percent in the first quarter from 34.9 percent a year earlier.
Samsung`s market share rose one point to 13.1 percent.
LG, the world`s fifth-largest cellphone maker, said it expected its handset operating
profit margin would pick up in the second quarter. It suffered weak margins in the first
quarter, hit by heavy inventories and a fall in prices for its cellphones.
(Additional reporting by Kim Miyoung)