According to the latest findings from Canalys, Africa has now positioned itself as the 3rd fastest-growing region for smartphones globally during this period
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Africa’s smartphone market surged by 24% during Q1 2024 with 18.2 million units sold, with Egypt leading the charge in North Africa with a 39% growth rate, supported by a steadier Egyptian Pound and funding from GCC countries.
According to the latest findings from Canalys, Africa has now positioned itself as the 3rd fastest-growing region for smartphones globally during this period, with many countries witnessing accelerated economic expansion in comparison to Q1 2023.
Samsung retained its position as the dominant player in the Egyptian smartphone market, capturing 29% market share despite experiencing a 13% decline in growth during Q1 2024.
Following Samsung was Xiaomi, holding a 20% market share and reporting a 61% growth rate.
Realme secured the 3rd spot with 15% market share and a whopping 475% growth rate, the highest among the top 5 smartphone vendors in Egypt.
Oppo claimed the fourth position with a 15% market share and a growth rate of 160%.
TRANSSION rounded up the top five with an 11% market share and a growth rate of 58%.
Looking ahead, Canalys predicts a modest 4% growth in 2024, attributing potential operational challenges to exchange rate fluctuations, although some markets may experience a decrease in inflationary pressures.
In the long term, sustainable market strategies such as local manufacturing, exemplified by Egypt and potentially applicable to markets like Nigeria, will be essential for vendors, explained Manish Pravinkumar, Senior Analyst at Canalys based in Dubai.
Pravinkumar also emphasized that Africa currently boasts the highest feature phone penetration rate globally at 46%, but the transition to smartphones is expected to drive continuous growth, with device financing schemes playing a pivotal role in further expanding penetration.
