Samsung Electronics targets an annual 10 percent increase in revenue from Africa over the next decade

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Even as the competition from cheaper consumer devices intensifies, Samsung Electronics is targeting an annual 10 percent increase in revenue from Africa over the next decade.

According to Samsung Electronics Africa CEO, Sung Yoon, the South Korean company will concentrate on key markets such as South Africa, Nigeria, Kenya, Ghana and Senegal. He noted that the more mature of those markets are already expanding at between 5 percent and 10 percent a year.

Yoon revealed that televisions will continue to be a top selling product for Samsung in the next two decades. This development will be driven by the increasing demand of young people for over-the-top services. He noted that mobile phones are also among the company’s fastest growing devices on the continent. According to researcher Canalys, Samsung takes second place on African phone sales at 22 percent.

Over-the-top platforms allow the delivery of film, music, and television content through the internet without the need to patronise traditional subscription packages. Yoon noted that Samsung will address the rise in demand for this service on the continent, by ensuring that by 2020, all Samsung products sold have internet-connection capabilities.

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