As Africa continues to navigate its way through the digital age, the future of its smartphone market looks promising. This was confirmed in a recent study by the global research firm Canalys. The report reveals that Africa’s economic complications did very little to deter the growth of its smartphone market.
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.
“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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