CHART: The African Smartphone Market in Q2 2024
TRANSSION, with its brands Tecno, Infinix, and iTel, maintained its dominance with a 51% market share
- The African smartphone market grew by 6% year-on-year in Q2 2024, reaching 17.8 million units.
- The budget smartphone segment grew by 42%, representing 33% of total shipments.
- TRANSSION maintained a 51% market share, though its growth slowed to just 1%.
The African smartphone market saw a modest surge in Q2 2024, with shipments rising by 6% year-on-year to reach 17.8 million units, according to Canalys’ latest research.
This growth, while a positive sign, represents a slowdown compared to the robust double-digit recovery observed in the previous three quarters.
The report attributed macroeconomic volatility heightened inflation risks, and renewed currency pressures, all fueled by ongoing geopolitical tensions and political uncertainties, to have pumped the brakes on what would have been a strong recovery.
Notably, there was varied performance across different regions of Africa highlighting the complex factors at play. North Africa led the way, with Algeria’s smartphone shipments surging by 52% despite import challenges, and Egypt seeing a 27% rise driven by local currency stability and government-backed manufacturing initiatives. However, Morocco faced a 24% decline due to increased customs duties.
Sub-Saharan Africa had mixed results. South Africa achieved 13% growth thanks to a post-election environment ripe for reform, while Nigeria, the region’s largest market, saw a modest 5% increase, hindered by inflation and sluggish economic growth. Kenya, however, experienced a 22% decline due to ongoing political tensions.
