Phone and electronic manufacturer, Samsung, has dropped its earlier commitment to establish a manufacturing/ assembly plant in Nigeria for phones and other electronic devices.
The company disclosed this at a forum in Lagos, where it also announced it was streamlining its operations across the continent to achieve greater operational efficiencies Samsung Electronics West Africa (SEWA) is refocusing its vision and strategy for Nigeria, the West African sub-region and the continent in general.
The exercise, the company said, was geared towards stimulating a higher level of operational efficiency, with the overarching objective of providing customers with the highest quality products, sales and services.
Through the process, the company will shore up its market leadership position across the continent. President and Chief Executive Officer, Samsung Electronics, Africa, Mr. Sung Yoo, said, “Establishing a manufacturing plant in Nigeria will definitely make the cost of our devices to go up for our Nigerian customers. As much as we would have loved to do this, the economic situation does not allow us to embark on this project for now. But it is still part of our future plan.”
As a dynamic and innovative organisation, Yoo said SEWA 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,” he said.
Yoon explained that since Samsung began operations in Nigeria in 2005, it has created a niche for itself by offering high quality products, stressing that this has impacted positively on the Nigerian economy in various ways, such as fostering knowledge/technology transfer and creating employment directly and indirectly for millions of Nigerians.
The company, he said, has also been heavily investing in corporate social responsibility in areas such as education, environmental sustainability and economic empowerment, through the numerous CSR projects it has undertaken.
Speaking on its investment and collaborations in Nigeria, Yoon said in Nigeria, Samsung had invested significantly in its partnership with the Lagos State Technical and Vocational Education Board, through, which it is helping to equip the country’s youths with the technical skills they need to transform their lives and contribute to the development of the country.
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