Nigeria is already home to some 147 million smartphone users, and the number keeps growing.

So, it is a very huge market, and smartphone makers across the world who see Nigeria as a lucrative market can’t seem to take their eyes of it.

New entrants are recorded every year, and the latest to indicate interest in coming in, is Egypt’s first smartphone maker, Silicon Industries Corporation, SICO.

The smartphone maker is looking to enter the broader African market by the end of 2018 or early 2019 as it seeks to boost exports, according to its sales director Mahmoud Ali who spoke to Reuters.

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SICO, which already exports to the Gulf, aims to start selling phones in Nigeria, Kenya, Morocco, the Democratic Republic of Congo, South Africa, Mozambique and Ghana.

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“It’s a promising market and there’s much less competition than in the Gulf,” Ali said, noting big demand for affordable phones in Africa. He said he mostly expected to sell smartphones in the $50 to $60 price range to African customers outside Egypt.

SICO, which was set up last year with a capital of 150 million Egyptian pounds ($8.4 million), sells phones under the brand name Nile X and has said it uses a Chinese design of 3G/4G U.S. technology.

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