Egyptian smartphone manufacturer SICO plans expansion in 7 African countries
(Ecofin Agency) - Silicon Industries Corporation (SICO), manufacturer of the first Egyptian smartphones, announces its expansion in Africa. Mahmoud Ali, the company sales manager, revealed that this expansion should be done by the end of 2018 or early 2019. In its expansion plan, the company targets Kenya, Morocco, DR Congo, South Africa, Nigeria, Mozambique, and Ghana.
Mahmoud Ali explains that this expansion into Sub-Saharan markets is justified seeing the promising outlook of this market where the competition is lower than in the Gulf region. SICO plans to sell its smartphones for prices comprised between $50 and $60 dollars.
Sico which set its assembly plant in Assiout, Egypt, in 2016, is planning to increase its production to 500,000 units this year and to 1.5 million units in 2019. Its international development manager, Ahmad el-Sawaf, explains that out of the planned 1.5 million productions, 900,000 units will be sold in Egypt while the remaining 600,000 units will be commercialized abroad.