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Business Editor
Samsung Zimbabwe is targeting a 50 percent market share on television sets in the coming year. This comes after the company opened a television sets and refrigerators assembly plant in Zimbabwe at the Zimpost Complex along Airport Road in Harare. The initial investment on the project amounted to $10 million but there are plans to create an assembly plant for Samsung’s other products.

“We have a five year investment plan, which we submitted to the ministry of finance which also caters for downstream industries. “We will also try to grow local procurement but obviously some of the components involved will have to be imported,” said a spokesperson for the group.

The group said they were already supplying the major retailers and while they are targeting a 50 percent market share on televisions, they would not talk about the refrigerators as there was “strong competition” in the sector. Current output is at 200 television sets and an average 100 refrigerators per day though this was dependant on the model.

“We are supplying major retailers but as we move forward we want to expand the market,” said the spokesperson. In line with models followed elsewhere where the group has a plant, SamZim is also setting up an Engineering Academy at the complex as well as a digital village which will consist of a solar powered internet school and tele-medical centre. The academy will also act as a service centre.

Mr Milton Macheka a director at the group said the assembly plant will also have a brand shop that will display all Samsung products. “This is just the initial stage of the project and we are looking at using as much local content in the assembly. “

Mr Macheka said the group had identified local supplies of injecting equipment and plastic manufacturing. SamZim will also assist local companies that may want to supply equipment to get credit lines to make sure that their products meet international standards.