Samsung Targets Africa Growth: Report
Samsung is seeking to significantly boost the revenues it derives from Africa so that, in five years' time, the continent will generate 20% of its total global sales, compared with about 10% now, according to a Reuters report that cites Sung Yoon, the head of the vendor's business in Africa.
According to the report, Samsung intends to open more retail stores and develop other sales channels in additional markets across Africa, a move that would also help reduce delivery times.
The ramp in activity is designed to meet growing demand for larger-screen TVs and smartphones, both markets in which Samsung is a significant global and regional player. But it's also to combat increasing competition, particularly from other Asian vendors: Samsung is under particular pressure from China's Transsion Holdings in the African smartphone market. (See Africa's Smartphone Market Still in the Doldrums: IDC.)
During the first nine months of 2017, Samsung generated total group worldwide revenues of US$152.5 billion: If its sales contribution from Africa currently runs at about 10%, that would put Samsung revenues from Africa during that period at $15.25 billion.
— The staff, Connecting Africa
Samsung is seeking to significantly boost the revenues it derives from Africa so that, in five years' time, the continent will generate 20% of its total global sales, compared with about 10% now, according to a Reuters report that cites Sung Yoon, the head of the vendor's business in Africa.
According to the report, Samsung intends to open more retail stores and develop other sales channels in additional markets across Africa, a move that would also help reduce delivery times.
The ramp in activity is designed to meet growing demand for larger-screen TVs and smartphones, both markets in which Samsung is a significant global and regional player. But it's also to combat increasing competition, particularly from other Asian vendors: Samsung is under particular pressure from China's Transsion Holdings in the African smartphone market. (See Africa's Smartphone Market Still in the Doldrums: IDC.)
During the first nine months of 2017, Samsung generated total group worldwide revenues of US$152.5 billion: If its sales contribution from Africa currently runs at about 10%, that would put Samsung revenues from Africa during that period at $15.25 billion.
— The staff, Connecting Africa