Based on the prices of the phone, we are focusing on mid to low tier market audience. They don’t particularly have a lot of money to spend on phones, but desire to have phones with the capabilities of the top-tier brands. They are concerned about the functionality and compatibility of the phone with their lifestyle; not as concerned with the brand of the phone.
Although smartphone penetration in Nigeria is still very low at about 30%, it is growing very fast. Over 65% of people who don’t currently use smartphones indicated interest to own a smartphone in the future.However, the biggest challenge of that intention is the cost of acquisition of smartphones, which is skyrocketing beyond the means of majority of Nigerians every day.The price of majority of the smartphones in Nigeria has gone up by almost 70%, making it difficult for Nigerians to afford most of the current smartphone brands in the Nigerian market.
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