Samsung to Boost Investments in Africa

Mergers, Acquisitions and Financial Results

Korean mobile phone and electronic goods manufacturer, Samsung Electronics, says it will increase investments in sub-Sahara Africa. The firm has regional offices in Nairobi, Lagos and South Africa.

Its African market share is about at 11 per cent. "We have not been very familiar with sub-Sahara Africa, but that is going to change," says Mr Kwang Bae Roh, a senior manager for marketing and sales Middle East and Africa.

He said Samsung sold 7.5 million units of mobile phones in Africa last year, and expects the figure to double this year. "Our target is to sell 28 million units next year," he said. He, however, asked African governments to intensify the war against counterfeit products, saying his firm had suffered in the past, where fraudsters targeted Samsung products. Although counterfeiting in global markets was reducing, it was still rampant in Africa, said Roh

The East African Standard