Samsung Electronics Co Ltd, a market leader and award-winning innovator in consumer electronics, is on track to grow its business in Africa to $10 billion by 2015, the firms continental head has said.
Addressing the Samsung Africa Forum held in Cape Town, South Africa, last week, Samsung Electronics Africa CEO KK Park said the South Korean headquartered firm was poised for growth this year and beyond.
As part of its expansion strategy in the continent, the company recently opened a shop in Harare and has inked three partnerships.
At our very first Africa Forum, in 2010, I announced the plan to grow our business in Africa to $10 billion by 2015, as measured by the sales of our partners and today, I am pleased to announce that we are well on track to meet this objective, Park told journalists drawn from across Africa.
This year, not only will we continue to maintain growth in key regions, but so too are focused on targeting growth of 100% in West, East and Southern Africa.
He added: Over the next three to four years, this growth will be underpinned by a focus on three key premises; Built for Africa research and development; B2B and B2G partnerships supported by key CSR initiatives and of course, growing and strengthening our partner network across Africa to reach our core mission to inspire the future of Africa!
During the forum, Sumsun showcased its diverse array of new, and specifically tailored to the African market, products. Embracing its new guiding philosophy of Built for Africa Inspire the Future the company shared its strategy to expand its African market and deliver connectivity and content across multiple devices from TVs, mobile phones, tablets, Notebook PCs, cameras and home appliances.
Park said Samsung believed in investing in developing technology that is specifically relevant to the African market. Through its Hope for Youth programme, the companyhas established the Samsung Engineering Academies for African students.
Furthermore, for younger students, it is building solar-powered Internet schools that can bring advanced education technology to communities.
Through this strategic approach, we will look to fast track growth across the continent and today is yet another step in our approach to delivering innovation on the African continent displayed through our key technologies and product portfolio, stated Park.
In 2011, Samsung achieved the first position in market share in the smartphone category and have continued to expand its device portfolio as well as the Galaxy range.
The Galaxy s II set a new record for Samsung, generating more than 20 million sales in 10 months since its launch -quicker than any other mobile device developed by Samsung in its history and for 2012 the company is aiming to build on this momentum.
Furthermore, with devices, particularly derived from the needs of the African consumer, such as the likes of the Galaxy Pocket and Ch@t 222 Samsung said it was well positioned to capitalise on the African market bringing the power of Samsung technology to a wider audience.
For 2012, Samsung has pushed the boundaries of home entertainment to meet the needs and challenges of its consumers. The company unveiled its 2012 international product innovations under three guiding pillars: Smart Interaction, Smart Content and Smart Evolution.
Samsung Electronics Co Ltd is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of $143,1 billion.
Employing approximately 222 000 people in 205 offices across 71 countries, the company operates two separate organisations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LCD.