Infinix seeks smartphone deal with Telecom Egypt
Infinix is about to sign an agreement with Telecom Egypt to supply the company with smartphones, the Daily News reported. Infinix business development manager Ahmed Wagih said negotiations are at an advanced stage.
Telecom Egypt obtained a licence to provide mobile services, including 4G ones, for EGP 7.08 billion, including 50 percent in US dollars and 50 percent in Egyptian pounds. The company paid EGP 5.2 billion and will pay the remaining sum in four annual instalments.
Infinix has launched its newest smartphones the Infinix Note 4 and Note 4 Pro on the local market. Wagih said the company managed to take a 15 percent market share in Egypt in 2016. He noted that the domestic market witnessed a contraction in mobile phone sales after the pound was floated by 40 percent, but has regained its growth again. Sales reached 1 million devices per month against 600,000 units only in the few months following the flotation of the pound.
Infinix aims to sell some 1.3 million devices in 2017 to boost its market share in Egypt.