Naira Decline Threatens Digital Growth As Smartphone Sales Stagnate …C0NTINUE READING HERE >>>
Nigeria’s struggling currency and economic headwinds are undermining its potential as Africa’s second-largest smartphone market, with the sector recording only a one percent growth in the third quarter of 2024.
The naira’s depreciation – falling over 60 percent from January to September 2024—has strained consumer spending power, according to Canalys, a global technology market analyst firm.
While the African smartphone market expanded by three percent year-on-year,…
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