“We have been working on this project for almost four years. We hope to sell 1.5 million in 2018, “he said.
Manufactured in a factory in Assiut, 400 km south of Cairo, this new phone contains electronic components manufactured in Egypt and others imported from China.
If the phone is first destined for the Egyptian market, the company ultimately aims to export its devices abroad, Salem said.
Telecommunications Minister Yasser Al Kadi presented Egypt’s first smartphone to President Abdel Fattah al-Sisi on Sunday at the Cairo ICT Conference, an annual Cairo exhibition dedicated to new technologies.
An important market for telephony in Africa, Egypt had more mobile subscribers in 2016 than residents, nearly 100 million subscribers, according to the National Telecommunications Regulatory Authority.
The phone, along with seven other models also produced by the company, will be available on the Egyptian market on December 18, Salem said.
SICO also plans to release new models every six months. Between 200 and 4000 Egyptian pounds (about 10 to 200 euros) according to the models, the proposed prices are supposed to compete with products imported from abroad.
Egypt aims to “take the place it deserves in this industry” by eventually exporting its electronic products.