Samsung Electronics is expected to open its second brand store in Zimbabwe on Monday as the South Korean giant makes inroads into the electronic consumer market that is set to grow even further.
Although Samsung products have been available on the local market for years, the first brand store located at Joina City has only been operating for the past year.
Victor da Silva of Samsung quoted by The Herald as saying they prepared to open the second brand store, and the expansion has been necessitated by the growing demand for genuine.
Samsung products and it is their aim as a brand store to give the complete Samsung experience to a broader audience.
"As a brand store aimed at providing high quality goods and services, we have faced several problems with counterfeit products that are appearing on the market and largely the distribution of products where there are no established retail sectors. There are 50 plus Samsung shops in Africa and the number is expected to continue growing as we are a growing organization," he said.
Ernst & Young are forecasting that 150 billion U. S. dollars will flow into Africa in new investment by 2015. Africa is seen as the largest and fastest growing markets for consumer goods. It expected that consumer spending will reach 1.4 trillion dollars by 2020.
Samsung Electronics plans to boost its revenue from Africa to 10 billion dollars by 2015.
Samsung's revenue from Africa currently stands at 2 billion dollars, less than 5 percent of the global total. The world's top television maker wants to grow that contribution to around 8 percent or 9 percent by 2015.
The South Korean company has increased its African footprint over the last year. It currently has a presence in 42 countries on the continent, compared with 15 at the start of 2010.
