Cuba, best known for the 1950s-era cars that line the streets of Havana and its legendary cigars, hasn't really evolved as a lucrative market for consumer electronics. The country itself has to progress considerably before most of its citizens are able to spend a good amount of money on consumer electronic devices.
The market is opening up, albeit gradually. New business opportunities have came up following the thaw in the country's relations with the United States a couple of years ago. Others who kept themselves out of this market have started to take notice as well.
Samsung announced today that it has opened a brand shop in Havana, Cuba's capital. It's a very rare move by Samsung as it's making a full-fledged entry into the market. Samsung has opened its brand shop in Havana in cooperation with a local retailer Cadena De Tiendas TRD Caribe.
TRD is a major retailer in Cuba. It accounts for over 50 percent of the sales in Cuba's electronics market, so Samsung has a good partner in TRD.
Premium Samsung products like TVs, refrigerators and smartphones will be displayed at the brand show. It hopes that this brand store will help improve the company's brand reputation in the region.
