A senior Samsung Electronics executive recently increased its 2009 sales target for the Middle East to $20 million. Peter (Ju Sun) Lee said their original sales target for the Middle East Hospitality TV business was $10 million and they have recently raised that to $20 million. Mr. Lee said for the first half of this year they expect to sell Hospitality TV’s worth $5 million to the hotels in the region.
Samsung revenues for its Hospitality TV business have fallen due to the economic slowdown. Last year they made $13 million worth of sales of Hospitality TV’s . Mr. Lee said the recession has affected the Middle East and Africa, “but we expect that liquidity will come back to the Dubai market sooner than expected.”
