Samsung Electronics revealed ambitious plans to double its revenue from Africa within the next five years in a bid to generate 20 per cent of its global sales from the continent.
In an interview with Reuters, Sung Yoon, CEO and president for Samsung Africa, said the South Korea-based company would increase its retail reach to meet the increased demand for TVs and smartphones with larger screens.
He added the continued investment in connectivity infrastructure would further stimulate growth in smartphone sales.
The company already holds a significant presence in Africa. IDC figures from Q3 2017 estimated its share of the smartphone market at 26 per cent. This places it second behind Transsion, which owns brand Tecno Mobile and held a 30 per cent share at end Q3 2017.
Yoon said Samsung would increase its own footprint across the continent and open a greater number of retail channels to reduce delivery times for customers.
However, he conceded the vendor faced strong competition from rivals offering entry level handsets at lower prices.