In­finix nears com­plet­ing con­tract with TE

Mar­ket sales have re­gained growth and have ap­proached one mil­lion units per month, says Wagih

The Daily News Egypt - - Business -

Busi­ness De­vel­op­ment Man­ager at In­finix Cor­po­ra­tion Ahmed Wagih said that the ne­go­ti­a­tions with Tele­com Egypt to sup­ply the com­pany with smart­phones are still on­go­ing and are at an ad­vanced stage, not­ing that the co­op­er­a­tion with Or­ange is still go­ing well.

Tele­com Egypt ob­tained a li­cence to pro­vide mo­bile ser­vices and 4G ser­vices for EGP 7.08bn, in­clud­ing 50% in US dol­lars and 50% in Egyp­tian pounds.The com­pany paid EGP 5.2bn and will pay the re­main­ing sum on four an­nual in­stal­ments. Tele­com Egypt an­nounced it aims to pro­vide 4G mo­bile ser­vices in the sum­mer, start­ing from Septem­ber.

Mean­while, In­finix has launched its new­est smart­phones the In­finix Note 4 and Note 4 Pro on the lo­cal mar­ket.Wagih said the com­pany has man­aged to take a 15% mar­ket share in Egypt last year.

He noted that the do­mes­tic mar­ket wit­nessed a con­trac­tion in mo­bile phone sales af­ter the pound was floated by 40%, yet, has re­gained its growth again, where sales reached 1 mil­lion de­vices per month against 600,000 units only in the few months fol­low­ing the flota­tion of the pound.

Wagih noted that the hike of ex­change rate last year has af­fected the com­pany’s busi­ness neg­a­tively, adding that the mar­ket be­gan to re­cover dur­ing the cur­rent pe­riod.

In­finix aims to sell some 1.3 mil­lion de­vices in 2017 to boost its mar­ket share in Egypt, de­spite the de­cline in sales in Egypt to 10 mil­lion de­vices in 2017 com­pared to 14 mil­lion in 2015.

Busi­ness De­vel­op­ment Man­ager at In­finix Cor­po­ra­tion Ahmed Wagih

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