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Samsung sets its eyes on Africa market
The Samsung Africa Regional Forum was held in the Kenyan capital, Nairobi last week, opening on Thursday, 12 May 2011. During the event, the electronic company announced its Africa business regional strategy. In what it dubbed as 'Built for Africa', Samsung aims to take the African market by storm through innovations in internet-connected television, consumer-inspired digital cameras, and mobile technology.
"Through our Samsung Blue Project, we intend to become a US$10 billion region by 2015, growing the market to the size of China's. While, these goals are aggressive, they are the result of a strategy that like our corporate social responsibility programs, are built in Africa, for Africa," said Kwang Kee Park, Samsung Electronics Africa president.
In 2010, Samsung's revenue from its Africa operations grew by 31% (US$1.23 billion) contributing to the company's US$135.8 billion global revenue. Samsung's strategy is to develop the local industry further by establishing further knock-down plants. Currently, there are plants in Sudan, South Africa, Nigeria, Ethiopia and Senegal. Additionally, Park highlighted the company's plans to broaden sales and marketing strategies. In 2011 and beyond, Samsung will focus much of its marketing dollars on 30 cities in 14 countries, developing customised messages that will connect with the African people and support its global and regional products.
Rapid transformation in Africa
Africa has been witnessing rapid transformation over the past five years, from an area of seemingly low potential, to an area of great opportunity and economic growth. After India and China, Africa has the next one billion people ready to enter into the global marketplace. African countries are pulling investment from the World Bank, USAID, the United Nations, and other non-profit organisations at a rate of almost US$70 billion per year.
Another key area for the Samsung brand in elevating their commitment to the African continent is through creating differentiated customer experiences and service levels. Samsung has around 200 brand-stores, 100 shop in shops, 100 mobile plaza's and 10 IT solutions centres.
The Samsung 2011 Africa Forum has an exhibition zone called Built for Africa showcasing products tailored for the Africa market. Among items on display include smart mobile devices where attendees explored Samsung's new class of Android-based smart phones and tablets in the Galaxy family line.
About Carole Kimutai
Carole Kimutai is a writer and editor based in Nairobi, Kenya. She is currently an MA student in New Media at the University of Leicester, UK. Follow her on Twitter at @CaroleKimutai.
