CORRECTED - CORRECTED-UPDATE 1-Samsung Elec sees 2008 DRAM recovery

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SEOUL, Nov 28 (Reuters) - Samsung Electronics (005930.KS: Quote, Profile, Research, Stock Buzz) said on Wednesday the oversupply situation in computer chips was expected to ease in 2008, especially in the second half, but that fourth-quarter telecom profit would come in lower than in the third.

Samsung, the world's biggest maker of memory chips, made the prediction on dynamic random access memory (DRAM) chips at a technology forum.

"The visibility of the market is very low at this moment," said Chu Woo-sik, executive vice president in charge of investor relations.

He said Samsung was betting on non-memory semiconductors and on the printer market as its next growth engines.

Chu predicted the fourth-quarter telecoms operating profit margin could drop by 2 to 3 percentage points from the third quarter's 12 percent margin, citing higher marketing costs for handsets.

Chu nevertheless expressed faith in a recovery in the memory chip market, fuelled by rising demand for NAND flash chips, commonly used in portable gadgets, which would in turn prompt manufacturers to switch more production from DRAM to NAND.

He also said the company was not planning to spend more in 2008 than in 2007.