HMD Global eyes manufacturing 2M Nokia smartphones for Egypt

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Nokia-branded smartphone manufacturer Human Mobile Devices (HMD) is targeting manufacturing 2 million smartphones annually for the Egyptian market in 2024 and 2025, as per a statement.

Furthermore, the company aims to export 4.6 million smartphones from Egypt to Africa within the two years, including 600,000 devices to North African countries.

This came during a meeting between the Egyptian Minister of Communications and Information Technology Amr Talaat and HMD’s CEO Jean-Francois Baril to mull over the company’s expansion plans in Egypt.

The company plans to turn Egypt into a regional hub for manufacturing and exporting its smartphones to its international markets, Baril pointed out.

Additionally, it is eager to maximize the added value and raise the percentage of local components of its products that are manufactured in Egypt.