Africa’s smartphone market showed a modest 3% growth in Q3 2024, according to the latest Canalys report. However, the outlook for 2025 is less optimistic, with a projected growth of just 1%. This slow growth is largely due to ongoing economic difficulties across the continent.
Africa’s Smartphone Market Faces Modest Growth Amid Economic Struggles
The market performance across different African countries is quite varied. Egypt stood out with a strong 34% growth in smartphone sales for the third consecutive quarter. This growth is driven by Egypt’s robust local production capacity, which has helped maintain steady smartphone supply.
In contrast, Nigeria, Africa’s largest smartphone market, grew only 1%. This is mainly due to the sharp depreciation of the Naira, which lost nearly 70% of its value between January and September 2024. This currency drop has reduced consumer purchasing power.
South Africa, which had seen steady growth in the past, experienced a 10% decline in smartphone sales in Q3. The country’s economic troubles, including high inflation and rising food prices, have reduced consumer spending. Similarly, Kenya saw a 10% drop, impacted by rising fuel costs and production challenges. Morocco faced an even worse situation, with a 24% drop in smartphone sales.
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Market Leaders and Growth
Despite the challenges, some brands are performing well. Transsion continues to lead the African market with a 50% share. The company grew its shipments by 8%, showing resilience in a tough environment.
Samsung, however, faced a 30% drop in shipments, mainly due to declining demand in South Africa. Chinese brands like Xiaomi, Realme, and Honor showed impressive growth. Xiaomi’s sales grew by 13%, Realme saw a 101% increase, and Honor led with a staggering 287% growth. Oppo also saw a 22% increase.
Looking Ahead
The smartphone market in Africa faces ongoing challenges. Inflation, currency devaluation, and high costs continue to limit growth. However, brands that adapt to local conditions may still find success.
