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Samsung looks to increase marketing budget in ‘03

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Amsterdam--Samsung Electronics said it would increase its marketing budget in 2003 in an attempt to strengthen its brand in the North American and European markets. Samsung, a supplier of semiconductor technology, said it would focus its strategy on two product categories: flat-screen TVs and mobile phones. "This year we're spending over $400 million on marketing. Next year it will be more," Samsung exec VP-global marketing Eric Kim told Reuters in an interview in Paris earlier this week. He did not say specifically how much next year's marketing budget would be.
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