Wednesday, May 21, 2008

South Korea - handset production

Gov't Plans to Double Cellphone Production by 2012

The government plans to double Korea's annual cellphone production to 600 million units by 2012.

Meeting with key players in the country's mobile telecom industry, Knowledge Economy Minister Lee Youn-ho said a plan is in the works to promote the industry as a key economic growth engine.

The mobile communications sector currently accounts for 7 percent of Korea's gross domestic product.

If all goes according to plan, the global market share of Korean mobile device manufacturers will jump to 33 percent by 2012 from last year's 22 percent.

More detailed plans are to be announced sometime in June.

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