We had a chat with the new Samsung Nigeria’s Managing Director, Caden Chiyeon Yu on 9th March 2020. He talked about how he is adjusting to the country, his plans for Samsung and how to stay ahead of competitors. Chiyeon Yu was formerly MD of Samsung in Senegal and feels really happy to join Samsung Nigeria.
Caden was all smiles in his Lagos office and immediately offered us refreshment, he says that his first impression of Nigeria is that the citizens are kinder.
“They’ll come to me and say hello. They are open and they introduce themselves,” Yu says.
He talks about experiencing traffic whenever he goes for events on the mainland part of Lagos. He also talks about Nigeria as being very different from how it is portrayed in the media. Yu mentions that Nigerian food reminds him of Korea, “It’s Spicy,” he says.
Caden says he is to attend another meeting after meeting with us. He opens by explaining that Samsung Nigeria comes with a bigger responsibility and expectation.
He intends to hit the ground running and increase Samsung’s share of the smartphone market. Chiyeon Yu believes the Nigerian market is similar to the Senegalese. That is regarding price sensitivity.
Therefore the focus will be on launching quality products that are affordable like the A-series.
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Although as he reckons, he might need to be patient with getting results. Yet, he believes that with the right communication and interaction with the consumers and partners, they can gain more market share and deliver quality to more people.
Samsung to expand its channels and launch a business model to ease cost of products
Chiyeon Yu says Samsung will work on expanding its channel by finding the appropriate players who will distribute their products in various regions. He is also working on a new business model that will help consumers afford their products. This format will allow payments in installments.
On 5G, he says:
“Samsung is ready and prepared. We are seeking our partners to implement the technology here. In Africa, we [have] already started collaborations with telcos in South Africa. Definitely, I’d like to implement 5G technology here. We will try to communicate with telcos to bring 5G technology and give the chance to experience and use technology to improve our lifestyle.”
Watch the full interview here:
Caden Chiyeon Yu has had a career spanning 17 years in Samsung. He has worked in Samsung Mobile’s division in the UK where he helped in the development of Samsung’s 3G platform for its mobile phones.
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