Communication
Phone makers promote wearable technology as demand rises
LAGOS-As the new wearable device technology fad spreads to Nigeria, Africa’s largest economy, phone manufacturers are currently promoting their electronic accessories, smart watches, glasses, and fitness bands, with a view to further garnering market share and improve revenues.
Market observers are of the view that demand is rising as smartphone integration, increasing convergence of functionality and design have indeed led to the rising number of wearable technology products.
According to Technology Distribution (TD), over 10 million smart devices worth $1 billion (N167 billion) were sold in Nigeria in 2013. Market observers are, however, of the view that the next wave of hardware innovation in the mobile industry is wearable technology.
Deliotte, a research company, has predicted that smart glasses, fitness bands and watches would sell about 10 million units in 2014, generating some $3 billion.
Industry heavyweights and electronics giants such as Google, Samsung, Huawei, Nokia, Sony, already see this enormous revenue potential, with many of them pushing out more wearable devices into the country, alongside smaller boutique manufacturers entering the space, as they seek to garner more market share and revenue, in an evolving mobile industry.
Paul Lee, director, global research lead, TMT, Deliotte, is, however, optimistic about the rise of wearable devices and their impact on the global technology industry.
“Consider that in 2014, billions of us will glance through trillions of times at connected screens, from vast digital billboards to computer screens, and from car dashboards to smartphones. The addition of a tiny screen which is permanently in line-of-sight will complement the array of screens we already use: it may enable some of us to stay permanently updated with flows of information we crave”, said Lee, in an interview with BusinessDay.
Market observers say the battle for space on people’s body is really under way, as Nigerian customers are already excited about these new gizmos that come with a wide range of changeable straps and interface themes. Wearable technology is not an isolated phenomenon, but part of the larger wave of the ‘Internet of Things’, with a potential economic impact of up to $6.2 trillion annually by 2025, according to analysts at research company, McKinsey.
“For wearables to be successful, they need to add to the user experience by complementing and enhancing what other devices already offer.”
In a significant market projection, Mordor Intelligence predicts that the Nigerian telecom sector is set to surge to a value of $11.43 billion by 2029.
The report anticipates a steady growth trajectory with a cumulative average growth rate (CAGR) of 4.70% between 2024 and 2029, based on the current market value of $9.09 billion.
The transformation of Nigeria’s telecom landscape, fueled by government initiatives to boost internet infrastructure and broadband connectivity, coupled with rising data consumption, 5G deployments, and innovative strategies from major telecom players, is expected to drive this substantial market expansion.
The report underscores additional factors propelling the growth of Nigeria’s telecom sector, emphasizing the surge in smartphone adoption.
the report said “Increased smartphone adoption in Nigeria has fueled the development of a dynamic digital services sector. Currently, millions of Nigerians use mobile apps, including social networking sites, e-commerce, and financial services.
“These apps could leverage smartphones’ capabilities to offer speed, convenience, and efficiency, encouraging more people to invest in smartphones.
“In addition to these expansions and collaborations, the growing adoption of digital technologies and government support in aiding the same alongside the 5G technology implementation across the country is analyzed to boost the demand for telecom towers significantly.”
“In addition to these expansions and collaborations, the growing adoption of digital technologies and government support in aiding the same alongside the 5G technology implementation across the country is analyzed to boost the demand for telecom towers significantly.”
Mordor Intelligence highlights that the flourishing e-commerce and digital service platforms in Nigeria are significant drivers behind the escalating demand for dependable telecom services in the country.
The Nigerian Communications Commission (NCC) has granted MTN’s request to partially disconnect Globacom (Glo) from its network owing to unsettled interconnect charges.
Reuben Muoka, the NCC’s Director of Public Affairs, disclosed this in a document named ‘Pre-Disconnection Notice’ on Monday.
The move follows Glo’s persistent failure to clear its outstanding debts despite multiple attempts to resolve the issue.
Under this partial disconnection, Globacom subscribers will solely receive calls from MTN users, while retaining access to other network services like outgoing calls to other networks and data services.
However, they won’t be able to initiate calls to MTN users during this period.
The statement read, “All subscribers are, therefore requested to take notice that the Commission has approved the Partial Disconnection of Globacom to MTN in accordance with Section 100 of the Nigerian Communications Act, 2003 and Paragraph 9 of the Guidelines on Procedure for Granting Approval to Disconnect Telecommunications Operators, 2012.
“At the expiration of 10 days from January 8, 2024, subscribers of Globacom will no longer be able to make calls to MTN but will be able to receive calls.
“The Partial Disconnection, however, will allow in-bound calls to the Globacom network,” it added
Nigerian telecommunication users, along with others within the country, expended a total of N3.33 trillion on various telecom services such as calls, data, SMS, and more throughout 2022, according to the Nigerian Communications Commission (NCC).
This information comes from the recently published ‘2022 Subscriber/Network Data Annual Report’ by the NCC, which also revealed that telecom companies generated N3.33 trillion in overall revenue for that year.
The report further highlights a noteworthy growth of active voice subscriptions, rising from 195,463,898 subscriptions in 2021 to 222,571,568 by December 2022, marking a 13.86% year-on-year increase.
Commenting on the increase, it said, “The increase in the Operators’ subscriber base was attributed to a number of reasons which includes subscriber loyalty, promos, seasonal effects, aggressive consumer acquisition drive, and competitive product offerings across all the networks.”
It noted that the growth in active subscriptions impacted positively on other derived telecom indicators such as teledensity, Internet penetration as well as broadband penetration.
Data usage also continued its surge in 2022. It increased by 46.77 per cent to 518,381.78TB as of the end of the year.
The NCC stated, “There was an increase in the volume of data consumed at the year-end December 2022 when compared with the year-end December 2021.
“The total volume of data consumed by subscribers increased to 518,381.78TB as of December 2022 from 353,118.89TB as of December 2021. This represents an increase of 46.77 per cent in data consumption within the period.”
Gov Bassey Otu Increases Minimum Wage
Reverse Tariff Hike In One Week, TUC Tells NERC
Shareholders Pass Key Resolutions At NGX’s 63rd AGM
NCDMB Receives N450m Interim Dividend From Waltersmith Modular Refinery
Sahara Group Urges More Refining, Storage To Boost Africa’s Downstream
Olatunji’s Abduction: NPO, BON Intervention, Ombudsman To Resolve
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Adeosun: We are investing in infrastructure to grow the private sector
Oando opens ultra-modern petrol station in Lagos
Shell launches Nigeria campaign on energy efficiency
