Samsung growth predictions are 'bullish'

Not bullsh*t just bullish...

Samsung Electronics' mobile growth predications throughout Europe for this year and the next are somewhat bullish, according to a device specialist. Paul Jackson, analyst at Forrester Research, said Samsung's handset sales growth predictions of 16 million in Europe this year and to double that the year after were "unrealistic". Jackson stated: "If about 72 per cent of the European population have handsets already, Samsung would have to get one fifth of those people renewing handsets which seems bullish in terms of how depressed the sector is at the moment." However, Mark Mitchinson, UK general manager for Samsung Mobile, stood by his enthusiastic convictions. He told silicon.com: "We have 16 million sales predicted for handsets this year in Europe and we plan to double that going onto the next year." Mitchinson claimed Samsung currently holds a fluctuating market share balance of between 10 and 12.5 per cent of the mobile sector in the UK and it intends to spread that same reach to Europe. Mitchinson said: "We want to mirror that 10 to 12 per cent market share from the UK to the rest of Europe by the end of this year or by the first quarter of next year, by the very latest." However, Forrester's Jackson added a note of caution: "Siemens said a couple of days ago that it wasn't expecting a market recovery in handset sales for the next 12 to 18 months, which is indicative of the market that Samsung is in."