UPDATE 1-Samsung Elec aims to outperform in tough year

(Adds more quotes, background, share price)

SEOUL, March 13 (Reuters) - Samsung Electronics (005930.KS), the world's top maker of memory chips and flat TVs, expects a very difficult year with shrinking growth and demand, but aims to maintain a profit and outperform the market, its CEO said.

"We will make every effort to maintain our profit," said Samsung vice chairman and CEO Lee Yoon-woo, adding the company would work at posting sales growth that would exceed the market rate in 2009.

Lee was speaking at the company's annual shareholder meeting.

The technology giant, which in January posted its first-ever quarterly net loss as a sharp downturn hammered its memory chip unit, expects the global slowdown to sap demand in 2009.

"Developed countries may post negative growth this year," Lee said.

"Demand is expected to decline in some core businesses," Lee added, referring to television and handsets in particular.

Lee said that the company would be managed in a financially disciplined way with an emphasis on maintaining stable liquidity.

The company did not release any specific forecasts or targets. It has said in the past it would invest "conservatively" this year and indicated a sharp drop in capital expenses after spending more than 11 trillion won in 2008.

Samsung said it posted a net profit in 2008 of 5.53 trillion won, or $4.4 billion according to its own calculations, down from the 7.43 trillion won profit posted in 2007.

Analysts surveyed by Reuters Estimates forecast Samsung would earn 2.23 trillion won in net profit this year -- a 60 percent drop from 2008 -- on annual sales of 70.3 trillion won. Samsung Electronics was up 1.87 percent as of 0105 GMT, versus the benchmark KOSPI .KS11 index's 1.28 percent gain.