Nigeria’s mobile application market is expected to grow by 15 per cent as smartphone ownership and broadband internet acquisition continue to rise, according to analysts
The expansion of the market will be driven by the falling prices of mobile phones and gadgets, analysts reported.
“Smartphones being sold for under US$100 is steadily becoming a reality globally. Low-end smartphones are increasingly available and these types of mobile phones will likely grow at a compound annual growth rate of 15 per cent over the coming years,” James Rutherford of Nokia Corporation said.
Nokia has an estimated 73 per cent of Nigeria’s mobile phone market with Samsung claiming four per cent, while Nigeria has more than 114mn mobile phones in active use, 10 per cent of which are smartphones.
“You can see that it has taken an astronomical growth with over 110mn mobile lines. We are in the top ten biggest mobile market in the world, all this in less than a decade," said Osamede Umweni, MD of 70th Precinct Limited.
"The growth of the app market is a reflection of our mobile market, they go side by side,” Umweni added.
