The Canalys report, issued on the 18th of December notes that “despite macroeconomic challenges, import restrictions, and volatile currencies in key markets, the region experienced an impressive 12% year-on-year growth in shipments, totaling 17.9 million units.”
The report is specifically for the 3rd quarter of 2023, with the growth in Q1 coming in at -18%, and the growth in Q2 bouncing back to 9%.
“The African market demonstrates strong resilience in demand and supply amid macroeconomic challenges,” Manish Pravinkumar, a Senior Consultant at the firm noted.
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“Despite rapid currency devaluation, South Africa's smartphone market exhibited a remarkable growth of 20%. This surge was fueled by the demand for entry-level devices, particularly catering to the extensive pre-paid segment,” he added.
The phone company Transsion has thrived on the continent, recording a 9% growth in the year so far, which has allowed the company to maintain its dominant 48% market share. The company’s strategy in Africa has been to target developing markets with offerings of devices below $100.
Meanwhile, “Samsung, hit by a 13% decline due to challenges in its mid-to-high-end devices, retained second position with 26% market share,” the report states.
“While witnessing significant growth in the third quarter of 2023, Canalys foresees limited expansion in the region, expecting single-digit growth in 2024,” highlighted Pravinkumar
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December 24, 2023 at 11:30PM
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Africa's smartphone market defies economic challenges with a 12% surge - Business Insider Africa
"Smartphone" - Google News
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