Business Development Manager at Infinix Corporation Ahmed Wagih said that the negotiations with Telecom Egypt to supply the company with smartphones are still ongoing and are at an advanced stage, noting that the cooperation with Orange is still going well.
Telecom Egypt obtained a licence to provide mobile services and 4G services for EGP 7.08bn, including 50% in US dollars and 50% in Egyptian pounds. The company paid EGP 5.2bn and will pay the remaining sum on four annual instalments. Telecom Egypt announced it aims to provide 4G mobile services in the summer, starting from September.
Meanwhile, Infinix has launched its newest smartphones the Infinix Note 4 and Note 4 Pro on the local market. Wagih said the company has managed to take a 15% market share in Egypt last year.
He noted that the domestic market witnessed a contraction in mobile phone sales after the pound was floated by 40%, yet, has regained its growth again, where sales reached 1 million devices per month against 600,000 units only in the few months following the flotation of the pound.
Wagih noted that the hike of exchange rate last year has affected the company’s business negatively, adding that the market began to recover during the current period.
Infinix aims to sell some 1.3 million devices in 2017 to boost its market share in Egypt, despite the decline in sales in Egypt to 10 million devices in 2017 compared to 14 million in 2015.