Samsung Electronics Co., the world’s biggest technology firm by revenue, is turning to Africa for overseas growth as part of efforts to tide over slowing demand in debt-ridden Europe, market watchers said.

Samsung has been stepping up its presence in the continent in a bid to raise an annual revenue of $10 billion by 2015 in countries located below the Sahara Desert, they said. The company aims to more than quadruple sales of TV and home appliance products in the same year.

The company has been expanding its business units in the continent. Samsung added a wholly owned subsidiary and a regional office this year, raising the number of its business units in the country to eight.

The company operates a regional headquarters in South Africa, three wholly-owned subsidiaries in Kenya, Nigeria and South Africa as well as four regional offices in countries such as Senegal and Sudan. (Yonhap News)