Samsung spends $16billion on research and development - Sundiata Tech

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Tuesday, January 23, 2018

Samsung spends $16billion on research and development

Samsung says it has spent $16billion on research and development to formidably increase the value and performance of its products which has in turn led to an increase in sales.

Speaking at Samsung’s strategic planning summit held in Lagos last week, Sung Yoon, president and CEO, Samsung Africa, said that the money invested into Samsung product have yielded positive results globally, even as it prepares for a new phase of growth in Nigeria.

“Presently there has been formidable increase in sales. All around the world, 700 Samsung phones are sold every 1 minute, and 90 televisions are sold every 1 minute. Approximately, 40,000 mobiles are sold in 1 hour and 5,000 Televisions every 1 hour, which is a remarkable development. So far we have been named the sixth most valued brand in the world and the number one for television and mobile phones,” Yoon said.

As a dynamic and innovative organisation, Samsung Electronics West Africa (SEWA) says it is constantly exploring ground-breaking ways of providing its customers with best-in-class products, sales, support and marketing functions.

“We wish to reiterate our commitment to this market and our focus on delivering the highest quality products, service and support, for which our customers have come to admire us. We can assure all our stakeholders that, as an organisation, we have gained useful insights from events of our recent past, both positive and negative, and are confident that the lessons learned will help propel us into our next phase of growth,” Yoon reiterated.

According to him, Samsung’s goals and vision for 2018 include its move to inspire the world.

In his words, “Our goal is to inspire the world and create the future. We intend to inspire the world through our smart mobiles that has been adequately assembled to make work faster and life easier. We also want to create a future where everything will be done at ease and in comfort.”

“More so, our 2018 strategy is to invest in product and design one of which is innovative technology. We are also going into partnership where we will be engaging more passionate talented people for the Nigerian market. This will go a long way in making us provide the best. We will also be more transparent in all of our activities. This will go a long way in enriching people’s life.” Yoon added.

He disclosed that there will be regular conferences in the month of January, April and July to review the progress and development of the 2018 goals.

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