The demand for Chinese language smartphones grew within the third quarter of 2023 in Nigeria as smartphone shipments within the Center East and African area had been up by 23 p.c year-on-year within the third quarter of 2023.
This was disclosed within the newest analysis from Counterpoint’s Market Monitor Service.
It acknowledged that smartphone shipments rose by 11 p.c quarter-on-quarter in Q3.
Based on the report, the robust demand for Tecno telephones within the quarter in Nigeria and different key markets in Africa was partially chargeable for the expansion recorded.
Additionally, many main markets recorded y-o-y enhancements of their key macroeconomic indicators, like unemployment and inflation, which helped enhance client sentiment through the quarter. The agency famous that the smartphone share of whole handset shipments rose to 61 p.c in Q3 2023.
Commenting available on the market’s efficiency, Analysis Analyst, Ravyansh Yadav, mentioned, “The MEA area grew the quickest amongst all areas, constructing on the momentum from Q2 2023 as economies continued to get better. This additionally made OEMs aggressive in capturing demand.
“The market reached ranges final noticed in 2021, earlier than the worldwide macroeconomic disaster, from which many developed markets are nonetheless struggling to climb out.
“The MEA area has enormous untapped potential, particularly because of fast digitalisation and a rising providers economic system. The smartphone is changing into more and more extra important within the area, a development we noticed practically a decade in the past in developed markets like North America, Europe, and East Asia.”
The agency added, “Tecno was among the many greatest gainers in Q3, benefitting from robust demand for its current launches just like the Spark 10, Pop 7 and Camon 20 collection, significantly in Nigeria and different key markets in Africa.”
The MEA area represents the following large market alternative for smartphone manufacturers as extra folks transition from function telephones to smartphones.
Additionally, the market is anticipated to proceed transferring to increased value bands.
Commenting on the MEA smartphone market’s value traits, Senior Analyst, Yang Wang, highlighted, “Shoppers are more and more choosing higher gadgets, which have change into extra reasonably priced owing to an increase in financing choices.
“Apple has benefitted tremendously from this, with its shipments steadily rising YoY over the previous 12 months. The wholesale common promoting value of smartphones bought in MEA has additionally grown 13 per cent YoY, with the share of value bands above $200 persevering with to extend. This development is more likely to proceed because the MEA area, like many areas earlier than, approaches maturity inside the subsequent decade pushed by a quickly rising digital economic system.”
