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Nigeria’s smartphone market slumps as economic hardship bites harder

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The smartphone market in Nigeria is experiencing a significant downturn, primarily driven by economic challenges such as high inflation, currency instability, and slow GDP growth.

As a result, smartphone shipments to Nigeria increased by only 5% in the second quarter of 2024, a stark contrast to the strong double-digit growth observed in previous quarters. The economic strain has forced many Nigerians to prioritize essential goods and services over discretionary spending on smartphones.

 

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