Korea’s Samsung invests over US$1 million in opening stores in Angola

20 May 2011

Luanda, Angola, 20 May – south Korean group Samsung has invested over US$1 million in opening five stores in Angola, after it opened its first in the country and 425th in the world in November, 2010, said the president of Samsung Electronics for Africa speaking to Angolan weekly newspaper, Expansão.

On the sidelines of the “Built for Africa 2011,” forum held in Kenya, Kwang Kee Park told the newspaper that the group, in its aim to expand in Africa, had identified Angola as a priority market included in its African Top Five.

After noting that the overall result of business in Angola was positive, Park said that a small technological forum was being organised for this year whilst the group will continue to extend its presence into Angolan provinces other than Luanda.

George Ferreira, head of Samsung’s operations for Africa, said that operations in Angola had been quite positive and that sales in the last quarter of 2010, for example, had exceeded those posted for the entire year in 2009, and this year were expected to be in excess of US$50 million.

In Angola, Samsung Electronics sells its products through six distributers – three for the mobile phone segment and another three for domestic items. (macauhub)