Canalys: The African smartphone market will surge by 24% in Q4 2023, with Transsion’s share reaching 51%

IT Home News on March 5, research organization Canalys released a report today. In the fourth quarter of 2023, the African smartphone market experienced a significant recovery, with shipments reaching 19.2 million units, a year-on-year increase of 24%. The report said the surge in the quarter was driven by growing demand for digital services, the boom in social media and the popularity of "buy now, pay later". Despite various economic challenges (South Africa facing an energy crisis, Nigeria's reforms in the oil industry, Egypt experiencing foreign exchange shortages), the region's top three markets have achieved strong growth. More affordable smartphones were launched, with growth of 15%, 63% and 63% in South Africa, Nigeria and Egypt respectively. For the full year 2023, smartphone shipments in the region reached 68.7 million units, up 6% from 2022 due to improved consumer confidence in the second half of 2023.

Africa Smartphone Market Share

In terms of market share:

1. Transsion:

   • Q4 2023: 51%
   • 2023: 50%
2. Samsung: Facing Chinese mobile phone manufacturers are facing challenges, with shipments falling by 5% in the fourth quarter of 2023.
3. Xiaomi: Shipments surged 88% in Q4 2023.
4. OPPO: Shipments soared 156% in Q4 2023.
5. realme: Shipments surged 105% in Q4 2023. fenye

   

   According to previous reports by IT House, TRANSSION achieved total operating income of 62.392 billion yuan in 2023, an increase of 33.90% over the same period last year; operating profit was 6.748 billion yuan, an increase of 122.55% over the same period last year; it is owned by the parent company The net profit of the company was 5.503 billion yuan, an increase of 121.55% compared with the same period last year.

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