Canalys has released its Q3 2024 market report for the smartphone sector in Africa, showing a modest 3% year-on-year growth. But the prediction for 2025 is not so rosy — just 1% for the year as a whole. The deceleration is mostly due to the economic risks that are limiting overall market performance on the continent.
Indeed, the continent-wide average growth is slight, but for different parts of the continent either on a regional or country basis, the scenario differs extremely. Egypt, for example, will continue its local capabilities with an extraordinary growth rate of 34% over three quarters from today in 2024. Such growth has made Egypt take the front seat on the regional smartphone map.
Table of Contents
Xiaomi Surges Ahead of Rivals in Africa’s Smartphone Market in Q3 2024, Canalys Report Shows
Nigeria, Africa’s biggest smartphone market only experienced 1% growth in the period; the primary cause of this slow speed is the dramatic fall in the Naira, which lost almost 70% of its value from January to September. The depreciation of the currency has been affecting purchasing power, which is why consumer spending on smartphones has suffered.
But with six prior quarters of strong growth, South Africa fell off a cliff in Q3 2024, down -10%. With rising prices of food and stubborn inflation affecting the country, shoppers have also cut their spending — something that mirrors the general economic malaise. In the same manner, Kenya experienced a 10% drop in smartphone sales as increasing petrol prices and production challenges impacted consumer appetite.
As such, Morocco is the hardest hit when it comes to smartphone sales dropping by a massive 24% in Q3 2024. The recent fall corresponds to the economic struggles among North African Markets where they have been stuck due to inflation and many economic strains.
Transsion faced these headwinds but remained resilient at the top of the African market with a 50% share and steady 8% growth. On the other hand, Samsung shipments decreased by 30% which The Mobile report attributed largely to low demand in South Africa. Sales for Xiaomi were up 13%, while Realme posted a significant growth of 101%. Honor, the sub-brand of Huawei, showed particularly explosive growth, soaring 287%, while Oppo also recorded a positive 22% year-on-year sales.
FAQs
What caused the 10% decline in South Africa’s smartphone market in Q3 2024?
The decline was mainly due to economic uncertainties, high inflation, and rising food prices.
Which smartphone brand leads the African market in Q3 2024?
Transsion continues to lead with a 50% market share and steady growth in the region.
