Mobile handsets and LCD panels are spearheading growth of Korea’s electronic goods export and replacing semiconductors whose export is still downbeat due to a prolonged weakness in price.
According to the Ministry of Knowledge Economy on March 4, Korea’s exports of mobile handsets posted $1.614 billion in February, up 22.9 percent from a year earlier, to rank top among Korea’s digital electronic goods exports for two consecutive months.
Though the February figures are lower than the January figures ($1.945 billion exports and 31.6 percent export growth), export of mobile handsets is assumed to maintain its uptrend considering a fewer number of working days during February with Lunar New Year holidays.
LCD panels also soared 36.1 percent to record $1.456 billion in February, holding second place for two months in a row.
However, exports of memory chips which had led the nation’s electronics exports until December last year plunged to $1.411 billion in January and further to $1.369 billion in February, taking third place after mobile handsets and LCD panels.
Mobile handsets, which had suffered difficulty amid fierce competition with rising low-priced products of global enterprises in 2005 and 2006, have newly emerged as strong export growth engine for digital electronics via marketing strategy focused on premium products, the Ministry of Knowledge Economy explained.
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