Iraq’s smartphone market grows 86% in Q4 2023

Baghdad (IraqiNews.com) – According to independent research firm Canalys, Iraq’s smartphone market grew by an astounding 86% in Q4 2023 even though local banks are tightening their limits on withdrawing US dollars, which is aggravating the scarcity and increasing the value of the parallel market.

The research firm claims that retailers in Iraq, such as TRANSSION and Xiaomi, are focusing their marketing efforts on younger consumers in an attempt to capitalize on their predilection for smartphones that combine cutting-edge features, stylish looks, and reasonable costs.

“Xiamo introduced improved offerings such as the Redmi 12C and restructured its team to enhance competitiveness,” says Manish Pravinkumar, Senior Consultant at Canalys. “HONOR is following Huawei’s legacy strategy in the region, launching flagship devices including the Honor Magic 5 Pro, while also emphasizing brand visibility with successful models in the Honor XA/B series, which has gained wider acceptance in markets such as Saudi Arabia and Iraq.”

“Looking ahead, there is optimism for growth in the Middle East smartphone market in 2024, as regional economic activity shows improvement,” Pravinkumar adds.