Samsung Electronics 2004 Revenues were as follows (1000 Kwon ~= $US 1)
 - Non-consolidated Revenues	$US 55.2 billion
 - Consolidated Revenues 	$US 78.2 billion

Notice above that $US 23 billion in revenues are unaccounted for in
the above non-consolidated results.  A JP Morgan equity research
report on Samsung states that "It is important to note that Samsung
does not consolidate numbers of its overseas Digital Media business. 
The company has told us that including the overseas business, its
Digital media business is profitable.?

Samsung Electronics 2004 Non-consolidated revenues by business segment
were as follows:
 - Telecommunications	$US 18.1 billion
 - Semiconductor	$US 17.4 billion
 - LCD			$US  8.3 billion
 - Digital Media	$US  7.7 billion
 - Appliances		$US  3.2 billion

  Presumably, the JP Morgan quote explains part of the massive $US 23
billion difference between the consolidated and unconsolidated
results.  Another source states that Samsung Electronics' Digital
Media segment had 2004 Consolidated revenues of $US 16.9B, a
difference of $US 9.2B from the non-consolidated results and 40% of
the unaccounted for consolidated revenues.  This leads to several
questions:

1) What Samsung Electronics operations are not consolidated?  JP
Morgan mentions the overseas Digital Media business, but are there
other non-consolidated operations?  If so, what are they?

2) What is the breakdown of Samsung Electronics' consolidated revenues
by business segment?

We have attempted to reconstruct Samsung's consolidated results using
sources such as IDC, Gartner Group, and various equity research
reports but have not been fully satisfied with the results of these
approaches.

If you can answer the above 2 questions, we will have some additional
questions for you.

Thank You