Samsung Electronics Co. Ltd.'s Q1 semiconductor sales were slightly higher than the year-ago results of $2.36 billion (2.97 trillion won), according to Reuters.

Lee Yoon-woo, president and CEO of Samsung's semiconductor business, told the news service he expected a recovery in chip prices in 2004 and that the unit would stay with its $4.6 billion (5.7 trillion won) capex for 2003.

The statement is a gutsy one, as many analysts expect a 30 percent-plus decrease in Q1 semiconductor sales year-over-year, partially because of fallen DRAM prices.

Lee further told Reuters that he expects the market pickup with consolidation among suppliers and as the debut of new models of mobile phones and digital televisions attract consumers.

Samsung's news comes one day after fellow chip player STMicroelectronics said it would just miss its Q1 goals due to pricing pressure and order push outs.

By: DocMemory
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