South Korea and Samsung provide the way forward for Nigeria

In October, Samsung had to permanently discontinue the production and sales of its flagship Galaxy Note 7 smartphones. The decision was taken after several recalls of the phones due to complaints of exploding batteries and incidents of the phones catching fire. This piece is neither about the company’s recent predicament, nor is it about my personal opinion of the South Korean manufacturing giant’s smartphones. (As for my opinion, I am often taunting colleagues and friends, including my spouse, that their favourite brand is inferior to the iPhone).

In this article, I like to explore the significant impact that the world’s largest manufacturer of smartphones has on the economy of South Korea, ranked the 11th largest economy in the world in 2015. According to South Korean Ministry of Strategy and Finance, Samsung accounted for 23% of the country’s Gross Domestic Product (GDP) in 2012, while Hyundai Motor Company contributed 12%.

Read the rest of the article  here

 

 

@jideolutuyi

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About Olajide Olutuyi

Father.Husband.Calgary Flames fan. Calgary Stampeders fan. Akure Sunshine stars fan. Supports conscious capitalism.Progressive conservative( supports sin taxes, low taxes and laissez-faire economy). Now listens to gospel and country. Former rap fan Believes in volunteering and community service as agents of developmental change. A lot of my time goes into community service, reading, encouraging people and most importantly God’s business. Loves culture , business start-ups and politics of both my home and adopted countries. This is my blog. The opinions and thoughts in my article are mine and I make no mistakes for having them. You may also find articles, news or opinions of others that I agree with on my blog. More information about my professional background and interests available on my LinkedIn page.
This entry was posted in Governance, Inspirational, Politics-, Samsung, South Korea, Uncategorized and tagged , , , . Bookmark the permalink.

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