Despite Samsung’s challenges over the last year, they are performing very well in Africa. This is largely attributed to their knowledge of the African market and meeting the needs of African customers. The South Korean company is currently at the top of the list of most admired brands in Africa.
Samsung did their market research to have a thorough understanding of how African consumers shop and what they need from their products. For example, appliances and devices need to be able to withstand dips and surges in power due to limited resources.
African companies are not performing as well in Africa as companies like Samsung, Unilever and Nestle. According to an article by the Financial Times, African companies were negatively impacted by a decline in oil and commodity prices and an unstable exchange rate. They grew at their slowest average rate in more than 20 years. Global companies were able to withstand the economic changes much better.
A major differentiator between African companies and Samsung is how they are capitalizing on the strength of the growing technology sector in Africa. The African Union set a goal to invest 1% of GDP on research and development (R&D), but only some countries are coming close to meeting that. In contrast, South Korea invests 4.3% of their GDP and is the world leader in R&D spending.
The reason for Samsung’s dominance in Africa is only partially due to its investment in technology, a major contributor to their success can be credited to their knowledge of the wants and needs of African consumers.
For more information, please see: Samsung blazes a trail adapting for the African market.
Additional Resources on Africa and African Language Translation
In order to support the growing needs of our clients for many of the African and Middle Eastern languages, GPI has offices in Dubai, UAE and Cairo, Egypt to support our clients doing business in the Middle East and Africa. GPI has built teams of professional native speakers for many of the African languages whether national or indigenous, who are available to help companies with their African language translations needs.
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About the Author
Natalie was born and raised in Montana where she graduated from The University of Montana with a degree in Business Administration. Her international experience includes two summer programs, one at The European Business School in Germany and the other at The University of Brescia in Italy. She studied a variety of global business subjects including international business, trade, culture and language. Key projects for her undergrad studies included meeting with executives from large corporations such as Lufthansa, Opel and The European Central Bank as well as working with the design team on the marketing plan for the 2015 World Fair in Milan, Italy. She has a range of global event management experience including organization of the Annual Mansfield Conference on the Middle East and the China Town Hall meeting series. Her hobbies include beading, yoga, cooking, reading, being outdoors and traveling.More Content by Natalie Williams