Canalys: African smartphone market sees modest growth in Q3 2024

Canalys’ market report for the smartphone market in Q3 2024 in Africa just dropped, showing a modest 3% year-on-year growth and projecting an even less impressive 1% growth for the full year 2025. That’s largely due to the region’s economic uncertainties.

Despite the small market gains on average across the continent, the situation in individual markets varies. For instance, Egypt showed an impressive 34% growth for a third consecutive quarter due to strong local production capacity throughout 2024.

Nigeria, on the other hand, is the biggest market in Africa but grew merely 1%, mainly due to the depreciating Naira. The currency’s value dropped almost 70% from January to September.

Following South Africa’s strong growth for the last six quarters, the smartphone market in the region saw a sharp 10% decline. Again, economic uncertainties are the main reason for the low consumer spending. Climbing food prices and raging inflation are the main culprits.

Kenya also saw a 10% decline as fuel costs and production challenges dampened consumer spending, while Morocco took a massive hit with a 24% decline in smartphone sales.

Transsion continues to lead the market in Africa, taking a 50% market share and recording steady 8% growth despite the market conditions. Samsung’s shipments fell 30% due to low demand in South Africa, which is typically one of the company’s biggest markets in Africa.

Xiaomi also managed to grow by 13% and despite Realme’s impressive 101% growth, Honor’s 287% gain remains unmatched. Meanwhile, Oppo achieved 22% more sales year-on-year.

Source

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