Jane Chen / Shanghai Daily news

Leading South Korean electronics manufacturer Samsung Electronics has reached consensus on cooperation with China's largest home appliance chain retailer Gome, and the latter has placed a 3.5-billion-yuan (US$433 million) worth purchase deal to the former, today's Shanghai Business newspaper reported.
Keun-hee Park, chief executive officer of Samsung Electronics great China area, has headed a delegation of senior officials to visit Gome's headquarters for a meeting with the Shanghai-based chain retailer's president Huang Guangyu.
Appreciating Gome's boosting business and information network that have significantly pushed Samsung's China business, Park said the two companies have achieved interactive development in the long term of cooperation.  Samsung will tune its strategy in channel development in with Gome's, he added.
On Park's visit, Samsung and Gome signed a 2006 memo of strategic cooperation, under which the two firms will help each other in their expansions in China and share the information databank.
Gome's 3.5-billion-yuan purchase deal covers all of Samsung's product lines.
Market analysts regard Samsung's alliance with Gome as the South Korean firm's effort to carry out is strategic goals as officially announced before the visit.
As the goals states, by 2010, Samsung is aimed to become the world's top three electronic firm in terms of product quality and quantity, with sales doubling the volume of 2004.