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

According to news from this website 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% .

According to the report, the growth in this quarter was mainly due to the increase in demand for digital services, the rapid development of social media and the popularity of "buy now, pay later".

The top three markets in the region have achieved strong growth despite various economic challenges (South Africa faces an energy crisis, Nigeria is reforming its oil industry, Egypt is experiencing foreign exchange shortages). 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, driven by improved consumer confidence in the second half of 2023.

▲ Picture source Canalys, the same below

From the perspective of market share, TRANSSION will still be the “African leader” in 2023 King",

the market share in the fourth quarter of 2023 reached 51%, and the market share in 2023 reached 50%.

In addition, Samsung, Xiaomi, OPPO, and

realme ranked second to fifth respectively. Samsung faces challenges from Chinese mobile phone manufacturers. Shipments fell by 5% in the fourth quarter of 2023, while Xiaomi, OPPO, and realme soared by 88%, 156%, and 105% respectively.

#According to previous reports on this site, 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; belongs to the owners of the parent company The net profit was 5.503 billion yuan, an increase of 121.55%

compared with the same period last year.

Reference

Africa smartphone market surges 24% in Q4 2023

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