Despite macroeconomic headwinds, import restrictions, and volatile currencies, Africa’s smartphone market surged 12% year-on-year in Q3 2023, reaching 17.9 million units shipped. TRANSSION maintained its leading position with a 48% market share, fueled by a 9% annual growth and strategic expansion in emerging markets, particularly through its focus on sub-$100 devices. Similarly, Egypt witnessed a robust 19% growth after overcoming challenges posed by strict import restrictions in the previous year. A cautious outlook, but long-term optimismWhile Q3 2023 witnessed strong growth, Canalys expects a muted single-digit expansion in 2024. Looking ahead, 2G connectivity is expected to plateau, while 4G and 5G see robust growth.

Source: Daily News Egypt December 21, 2023 04:31 UTC