26 November 2012

Uganda: Samsung Strengthens Base in Uganda

Samsung, a global company dealing in semiconductor, telecommunication, digital media and digital convergence technologies is conducting Samsung week which aims to increase local knowledge and awareness about the company.

The week that started on Nov. 25 in Kampala and ends on Dec. 1 will see the company showcase the latest products, reward loyal customers and explore potential business opportunities with key Ugandan partners.

Speaking at the launch of the week in Kampala on Nov. 22, Tessa Calleb, the company's marketing manager for East Africa said Africa's market is growing and there is need to come up with innovations that can support it.

"The reality is that African citizens are becoming much more tech savvy and reliant on using technology to drive their everyday lives," Calleb said.

The BBC reported on Nov. 22 that the Fitch ratings agency said Sony and Panasonic have weak balance sheets and are struggling to compete with companies that deal in similar products like Samsung.

Fitch cut Sony's rating by three notches to BB- and Panasonic's by two notches to BB.

The rating means that it believes that both firms will default on their debt.

Panasonic has warned it is on track for an annual loss of almost $10bn (£6.3bn), while Sony expects a small profit after four years of losses-

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