Africa’s smartphone market experienced a remarkable surge in Q1 2024, with a 24% sales increase totalling 18.2 million units. This growth cements Africa as the third fastest-growing region for smartphones globally, according to the latest findings from Canalys. The continent’s accelerated economic expansion outpaced many other regions compared to Q1 2023.
Egypt spearheaded this growth in North Africa, boasting a 39% increase in smartphone sales. This surge was driven by a more stable Egyptian Pound and financial support from Gulf Cooperation Council (GCC) countries. Egypt’s robust performance significantly contributed to the overall regional growth.
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Top Players in Africa’s Smartphone Market
Samsung: Despite a 13% decline in growth during Q1 2024, Samsung retained its dominance in the Egyptian smartphone market with a 29% market share.
Xiaomi: Xiaomi followed closely, securing a 20% market share and reporting a substantial 61% growth rate, reinforcing its strong presence in the market.
Realme: The most impressive growth was seen by Realme, which captured a 15% market share and achieved an astounding 475% growth rate, the highest among the top five vendors in Egypt.
Oppo: Oppo held the fourth position with a 15% market share and an impressive 160% growth rate, showcasing its growing popularity.
TRANSSION: Rounding out the top five, TRANSSION maintained an 11% market share and a 58% growth rate, continuing its steady expansion.
Future Projections
Canalys predicts a modest 4% growth for Africa’s smartphone market in 2024, citing potential operational challenges due to exchange rate fluctuations. However, some markets may benefit from a decrease in inflationary pressures.
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Manish Pravinkumar, Senior Analyst at Canalys, emphasised the importance of sustainable market strategies such as local manufacturing. Egypt’s local production model could be replicated in other markets like Nigeria to bolster growth.
Pravinkumar also highlighted Africa’s unique position with the highest feature phone penetration rate globally at 46%. The transition to smartphones, driven by device financing schemes, is expected to fuel continuous growth in the region.
Africa’s smartphone market is poised for sustained growth, driven by economic expansion and strategic initiatives. The impressive performances by leading brands in Egypt exemplify the dynamic and rapidly evolving landscape of the continent’s tech market.