
Audio By Carbonatix
South Korea’s Samsung Electronics plans to double the annual revenue contribution from its African markets to 20 percent of the firm’s global total in the next five years, the head of its business on the continent said on Monday.
Sung Yoon said the electronics giant, which accounts for over half of the mobile handsets and televisions sold in African nations like Kenya, would set up shops and other retail channels in more African countries and cut product delivery times.
“We think Africa is extremely important for the future,” he told Reuters after a news conference in Nairobi.
Demand for Samsung products was being driven by growing African demand for bigger TV and mobile phone screens, he said.
Most customers were now buying 55-65 inch TVs, up from 32 inches about a decade ago, while mobile users were no longer content with three-inch mobile phone screens.
An increase in connectivity across the continent, helped by higher investment in telecommunication infrastructure, would further boost demand for devices in future, Yoon said.
Telecom executives say more African consumers are turning to smartphones for more basic models, helped by faster Internet speeds, to use social media and banking applications.
Yoon said Samsung faced competition in Africa from cheaper devices, undercutting even Samsung’s more basic smartphones.
“Those entry products are still slightly more expensive than our low entry competitors so it’s difficult to reduce the gap ... We cannot sacrifice the quality,” he said.
Samsung’s rivals in Africa include China’s Huawei Technologies [HWT.UL] and Tecno, owned by Hong Kong’s Transsion Holdings.
Latest Stories
-
Two-day clean-up not enough, Mahama says as government considers monthly sanitation exercise
14 minutes -
Black Stars: Marvin Senaya out for several weeks after surgery on hamstring
15 minutes -
Ghana assistant coach Roger De Sa opens up about Black Stars challenges at World Cup 2026
23 minutes -
ACEP, Solar Taxi graduate 24 women in EV and renewable energy technologies
24 minutes -
Mahama to procure backhoes and specialised equipment to improve drain desilting
29 minutes -
Ghana’s Diamond Rackets depart for Botswana to for 2026 Billie Jean King Cup Africa Group III
42 minutes -
Excavator deployed to clear debris at Ashaley Botwe-School Junction after clean-up exercise
59 minutes -
Restore Zoomlion contract to improve sanitation – Madina traders appeal to government
1 hour -
Ghanaians in Nigeria warn JonahCapital dispute could spark Ghana-Nigeria tensions, urges presidential intervention
1 hour -
Ghana remains committed to 1.5°C global warming target under Paris agreement – Climate Minister
1 hour -
Mfantsipim opens nominations for 150th anniversary awards
1 hour -
Strategic partnerships key to unlocking Ghana-Germany investment potential – GGEA CEO
2 hours -
Former Tory minister Ann Widdecombe dies at 78
2 hours -
Vice President urges shared responsibility as she joins national clean-up exercise in Nungua
2 hours -
Cybercrime now ranks among world’s biggest economic threats – e-Crime Bureau founder
2 hours