The smartphone market in the Middle East and Africa region experienced the highest rate of growth in 2023, reaching 8%, which was primarily influenced by increased affordability, expanding digitalization, and a rising consumer demand for technology, according to the research by Canalys.
The report cited numerous factors fueling the Middle East and Africa’s secondhand smartphone market. One of them was inflation, which has caused phone makers to raise the price of new devices.
Lack of reason for smartphone upgrades was another major factor. The research also noted that growing costs of living and limited consumer purchasing power had reduced non-essential purchases.
Furthermore, high import taxes and tariffs on smartphones have driven up retail prices in addition to fluctuations in local currencies, reducing demand for smartphones.