The love for electronic devices has been on the rise in the recent past. Many people have specific devices from specific companies that they prefer. That has tightened competition from different manufacturers. The most targeted group is the young population.
Samsung Electronics is a Korean based firm. The company is aiming at increasing its annual revenue collections within African markets. It aims at pushing it to 20% of their total firm’s global market. This is their plan for the next five years to come. The electronic company accounts for more than half of the gadgets sold in Kenya. The company promised to put-up more shops in more African countries. They will hence reduce the delivery time of their products.
Africa is an important market for future development. There is a high number of people who yearn for bigger TV and mobile phone screens. This led to an increase in the demand for Samsung products. Many customers are now buying 55-56 inch TV. This is up from 32 inches some good years back. Mobile users also demanded more than the three-inch devices. Demand for devices in future depends on Increase in internet connectivity across Africa.
Higher investment in telecommunication infrastructure is also a determining factor. According to telecom executive, many African consumers prefer Smartphones. They come with more basic models, with faster Internet speeds. The internet helps in using the banking and social media applications. Samsung Company faced stiff competition from cheaper devices. This led to low sales of even the Samsung’s more basic devices. The higher quality of their devices makes it hard to reduce the prices. Their entry products are still expensive than their competitors. Tecno and Huawei Technologies are the main rivals of Samsung. Huawei Technologies is from China. Techno is under the ownership of Hong Kong’s Transsion Holdings.