Egypt's first smartphone maker sees market share rising by 2020

Egypt’s first smartphone maker is looking to capture 17 percent of the country’s market by 2020, up from 2.7 percent, its chairman said, as the company aims to tap a sprawling low-income market that has long been priced out of using high-tech phones.

Mohamed Salem told Reuters in an interview that Silicon Industries Corporation (SICO), was targeting low-income clients in the country, selling about 120,000 handsets since the phone went on sale in February and hopes to double its market by 2020.

“Our target is for exports to reach 60 percent of our production by 2020,” Salem told Reuters, adding the phone was already on sale in the United Arab Emirates (UAE) and will be in Kuwait later this week and in Saudi Arabia by the end of July.