Samsung Exec Says Smartphone Shipments May Grow 50% In 2010

Smartphones were one of the brightest spots in the mobile device market last year and this year with the economy continuing to suffer. The devices have sold in increasing numbers as consumers look for a single device that can serve more than one function.

Samsung's VP or marketing Lee Woo-jong told Reuters that Samsung believes that the smartphone market in 2010 may grow 50% and that a massive growth in the OLED display sales business is expected as well. Many of the new smartphones are starting to take advantage of OLED screens.

To take advantage of the expected boom in smartphone sales and OLED screens Samsung has announced that it is investing $2.15 billion by 2012 to build the world's largest plant for making ultra-bright AM-OLED screens. Shortages of the high-end screens built by Samsung are making it impossible for carriers to keep up with demand from consumers on devices like the HTC Droid Incredible sold by Verizon. The large manufacturing plant will help stop screen shortages from hurting sales of smartphones.