In a recent report by Canalys, as per which, the Middle East is speculated to grow as one of the best smartphone shipments in 2023. This estimation is excluding Turkey. In these markets, both the tech giant companies Apple and Samsung have a good presence.
As per the information coming, the market is predicted to recover nearly 46 million units in shipment by 2023. This records a growth of 13% year-on-year, along with its annual sales that reach up to $15 billion. Now it brings the average smartphone selling price (ASP) in the region to $325 which is approximately $2,314 yuan.
Additionally, Canalys analyst Sanyam Chaurasia reveals that the polarised consumer market in the Middle East also going to provide various opportunities for newcomers. It especially includes those who have made progress in the high-end markets respectively.
As per the reports, On one hand, the Middle East is primarily attracting a majority of working immigrants. It brings new demand for mass-market equipment. Whereas on the other hand, the region has a lot of wealth. It also depicts that more than half of sales in the Middle East come from the $500+ price bracket.
Also, these segments are dominated by Apple and Samsung, that combinely account for approx 96% of shipments. Notably, Chinese makers like Honor, OPPO and Xiaomi are very much curious to change the status quo by investing much in the region over the years.
