Samsung says that worldwide annual sales of Blu-ray players will hit 51 million by the year 2012.
That's according to an article by the Associated Press.
Samsung, which produced both Blu-ray and HD DVD/Blu-ray combo players, says that Blu-ray sales will now soar following Toshiba's decision to exit the HD DVD business.
Jun Dong-soo, chief of Samsung's digital audio-video business, said in a press release that he believes the worldwide market will grow at least 80 percent over the next five years, according to the AP.
The executive forecast that five million Blu-ray standalone players would be sold this year -- three times the amount sold last year.
"Our own Blu-ray product sales should increase to ($402 million) this year and surpass ($1 billion) by 2010," he stated.
Samsung last week unveiled its fourth-generation Blu-ray player, which is expected to be available for sale this summer.