According to local media outlets, Egypt’s first smartphone maker has plans to boost exports by entering the African broader market by the end of this year or beginning of 2019. SICO, short for Silicon Industries Corporation, already has a market in the Gulf. However, it is planning on selling phones in South Africa, Nigeria, Morocco, Mozambique, Ghana, Kenya and the Democratic Republic of Congo where is there a steady demand for affordable phones unlike the Gulf where competition is already high. The decision was stated by SICO Sales Director Mahmoud Ali according to Reuters who also said that phones would be sold at US $50 or $60 outside of Egypt. Currently, the company keeps 60 percent of its production and exports the rest. SICO Tech, which was set up last year with a capital of 150 million EGP, is the first Egypt based technology and handset manufacturer of reliable and affordable 4G smartphones introducing personal devices like tablets and smartphones. The company has invested 440 million Egyptian pounds into the development of six types of smartphones so far. It plans to introduce new phones and products, bringing its total products line…
