S Korea Aims to Up 2012 Handset Exports to $70 Billion Vs $29 Billion '07

SEOUL -(Dow Jones)- South Korea is targeting to raise its exports of mobile phones to $70 billion in 2012 from $29 billion in 2007, the Ministry of Knowledge Economy said Tuesday.

As part of its efforts to become a global leader in the handset sector, the country's mobile phone manufacturers will be producing a combined 600 million handsets in 2012, up from 250 million units in 2007, the ministry said in a statement.

South Korea aims to control 35% of the global handset market in 2012, up from 21% in 2007, it said.

Korea is home to Samsung Electronics and LG Electronics, the world's second and fourth largest handset makers by revenue, respectively.

By In-Soo Nam, Dow Jones Newswires; 822-2198-2234; In-Soo.Nam@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 8th July 2008