Samsung seeks to sway analysts

Samsung is reviewing its European corporate and financial PR account to convince media and analysts that 2005 will see rising sales of its handsets.

The Korean consumer electronics giant has suffered an earnings slump resulting from the mobile handset price war and disappointing demand for its flat screens.

The company is today (Friday) expected to report a 24 per cent slump in earnings for the last quarter of 2004.

The move puts in jeopardy Samsung’s eight-year relationship with Golin Harris, which has managed its corporate profile, financial calendar and publicity around technology breakthroughs.

The review is being directed from Samsung’s Korean headquarters and Mac Jeffery, senior vice-president at subsidiary Cheil Communications.

A spokeswoman for Cheil in the UK said firms would be pitching for the business next week.

Aggressive price-cutting by Nokia, the world’s biggest handset maker, has forced Samsung to sacrifice profits to compete, but the company hopes new models and reduced marketing costs will allow margins to recover later this year.

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