Egypt Is Promising Market With Supportive Government: Samsung

(MENAFN- Daily News Egypt) Samsung Egypt, a leading Electronics company, has expressed its confidence in the Egyptian market and its growth potential. The company's Marketing Sector Head, Ahmed Ali, said that the government has been making significant efforts to improve the investment climate and attract more foreign investors. He added that Samsung Egypt has expanded its presence in the Egyptian market by obtaining the golden licence, which allows it to operate in various sectors, and by constructing a 6,000-square-meter factory for mobile phones. The factory, which is located in Beni Suef, is expected to create more than 1,000 jobs and increase the local production of Samsung devices.

How does Samsung Egypt view the Egyptian market and its investment climate?

Samsung Egypt considers the Egyptian market as one of the most promising in the Middle East, especially with the government's efforts to improve the investment climate and provide various incentives and facilities for companies. The company has obtained the golden licence, which allows it to expedite the construction of a new mobile phone factory in Beni Suef, which will cover an area of 6,000 square meters and will be operational within two years.

What are the opportunities and challenges that Samsung Egypt faces in the Egyptian market?

The Egyptian market offers many opportunities for global investments, such as promoting the localisation of the electronics industry, transferring advanced and innovative technology, and supporting the manufacturing and import sectors. Samsung Egypt has faced some challenges in localising the production of screens in its Beni Suef factory, which has a capacity of about 6 million units per year. However, the company has maintained its leadership in the television industry for 17 consecutive years and has exported more than 85% of its screens to over 60 countries worldwide.

How does Samsung Egypt perceive the mobile market in light of the import regulations?

The mobile market is one of the fastest-growing sectors in Egypt, despite the recent global challenges. Samsung Egypt dominates the majority of smartphone sales in different price segments in Egypt. The company started local manufacturing of mobile phones in November 2022, which plays a vital role in revitalizing the market and boosting the Egyptian economy.

How long has Samsung been producing mobile devices locally in Egypt?

Samsung has been engaged in local manufacturing of mobile devices in Egypt for ten years. The company started by establishing a factory in Beni Suef to produce screens and then expanded to produce mobile phones in 2023. The company aims to meet the local market needs and transfer the latest global technologies to the Egyptian market, as well as provide employment opportunities for qualified technical personnel in the electronics industry.

How does local manufacturing affect the prices of Samsung mobile devices?

The prices of Samsung mobile devices are influenced by various factors, such as production input costs, currency exchange rates, economic fluctuations, market characteristics, purchasing power, and the prices of competing products. Local manufacturing is one of the factors that can help reduce production input costs and increase the availability of Samsung devices in the Egyptian market. However, the final pricing plans are developed based on a comprehensive analysis of all the factors.

What is Samsung's outlook on the Egyptian mobile market and the investment climate?

Samsung has a positive outlook on the Egyptian mobile market and the investment climate, which have demonstrated resilience and strength against various challenges. The company is confident in the potential for growth and development in the Egyptian market and is committed to providing a wide range of phones with different capabilities and prices, transferring the latest global technologies to meet the needs of each customer.

What are the benefits of the Trade-In system that Samsung offers to its customers?

The Trade-In system is one of the systems that Samsung offers to its customers to enhance their satisfaction and loyalty. The system allows customers to exchange their old Samsung devices for new ones with a discount, depending on the condition and model of the old device. The system is applied to specific products in the company's online store. Additionally, the company collaborates with instalment and banking companies to offer convenient financing options for customers, making Samsung products more accessible.

What are Samsung's plans for the local and global markets in the mobile and television sectors?

Samsung has ambitious plans for the local and global markets in the mobile and television sectors. The company aims to enhance the production capacity of its factory in Beni Suef, making“Made in Egypt” Samsung products available in more markets. The company has successfully exported its products to 61 countries in 2023 and plans to expand to more countries in the coming year. Moreover, the company places special emphasis on improving its online store with a professional team to enhance the online shopping experience for customers, ensuring transparency, offering promotions, and diversifying products.

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