Public Management

African Smartphone Market Growth Slows in Q3 2024

African Smartphone Market Growth Slows in Q3 2024
Tuesday, 26 November 2024 19:13

In 2023, Sub-Saharan Africa had one billion mobile subscriptions, but only 51% were linked to smartphones, according to the GSMA.

Smartphone shipments in Africa reached 18.4 million units in Q3 2024, showing a modest 3% increase from the same period in 2023. This growth was slower compared to the 24% and 6% growth rates seen in the first and second quarters of 2024, according to data from the Singapore-based market research firm Canalys.

The deceleration is attributed to challenges such as inflation, energy volatility, weak consumer demand, rising operational costs, and infrastructure gaps. 

Looking ahead, Canalys notes that the future of Africa’s smartphone market will rely heavily on governments' and suppliers’ ability to address these structural hurdles. The firm forecasts a cautious 1% growth in smartphone shipments for 2025 and projects a compound annual growth rate (CAGR) of 1% between 2024 and 2028. 

This market slowdown could hinder broadband adoption in Africa, where telecom operators are ramping up investments in 4G and 5G networks, which require compatible devices. At the same time, African governments are accelerating the digitalization of public services to improve accessibility for citizens. Additionally, private startups are introducing various innovative digital services. 

“In the long term, success will depend on forging innovative partnerships among governments, vendors and service providers to balance immediate financial needs with long-term goals,” Canalys stated. “By fostering collaboration, Africa can accelerate its digital transformation, laying the groundwork for a connected, inclusive and economically dynamic future.” 

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
• Gabon signs two major financing agreements with Afreximbank totaling over $3.2 billion.• Projects target mining sector transformation, expanded...
• Afreximbank to mobilize up to $1.5 billion for Chad’s private sector development.• Agreement supports key sectors, including agropastoral...
(WAVE) - Wave Mobile Money, Africa’s fastest-growing mobile money platform, has raised EUR 117 million in debt financing to advance its mission of...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
04

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.