Connect with us

Tech

Huawei overtakes Apple as second biggest smartphone seller

Published

on

In a not so shocking revelation, Chinese based tech firm Huawei has overtaken Apple to become the world’s second-biggest smartphone seller, this is according to new June quarter data from market research firms.

Market intelligence firms IDC, IHS Markit and Canalys all report that Huawei shipped more phones than Apple in the past quarter. IDC and IHS Markit report the firm had shipped 54.2 million phones; Canalys estimated it was 54 million.

South Korean consumer electronics titan Samsung remained the top smartphone maker, shipping 71.5 million handsets, but Huawei moved into second position with shipments of 54.2 million, according to IDC Worldwide Quarterly Mobile Phone Tracker.

Silicon Valley-based Apple shipped 41.3 million iPhones, claiming 12.1 percent of the global market compared to 20.9 percent for Samsung and 15.8 percent for Huawei.

Read Also: Andela Launches Tech Hub In Rwanda

“The continued growth of Huawei is impressive, to say the least, as is its ability to move into markets where, until recently, the brand was largely unknown,” said Ryan Reith, program vice president with IDC’s Worldwide Mobile Device Trackers.

The iPhone did well, with the top-of-the-line iPhone X model a big seller in many markets, according to IDC. Apple was expected to wrest back control of the market with the release of new iPhone models in the fall.

Apple, Huawei and Samsung were the main contenders when it came to competition for high-end smartphones priced at $700 or more, according to Reith.

Tech

Mastercard Foundation launches $200 million fund to support female-centric African SMEs

Published

on

The Mastercard Foundation Africa Growth Fund (MFAGF), has announced the launching of a $200 million funding initiative for female-centric Small and Medium Enterprises (SMEs) in Africa.

The MFAGF, in a statement on Thursday, said the funding scheme will work through African investment vehicles to support early-stage, growth-oriented SMEs on the continent, and beside providing capital for investment vehicles, “The Fund of Funds” will offer a business development facility for its portfolio companies.

The initiative, it said, will use gender lens investing principles to help advance the Mastercard Foundation’s Young Africa Works strategy, which aims to enable 30 million young people in Africa, particularly young women, to access dignified and fulfilling work by 2030.

“The program has so far identified two investment vehicles, one in East Africa and another in West Africa to help in supporting entrepreneurial growth,” the MFAGF said.

“The Mastercard Foundation Africa Growth Fund’s goal is to provide dignified and fulfilling work for young people, particularly young women.

“The Fund of Funds is catalytic, helping to bring in additional capital for African entrepreneurs, particularly female entrepreneurs. It strengthens and de-risks African investment funds committed to advancing gender equity in entrepreneurship.

“Mastercard has a vision of enabling 30 million young people in Africa to access dignified and fulfilling work by 2030. Eligible enterprises are those owned and led by African entrepreneurs and located on the African continent are often considered high-risk,” it added.

Continue Reading

Tech

South African venture capital firm, 4Di Capital, announces new $25 million seed funding

Published

on

South African early-stage venture capital fund firm, 4Di Capital, has announced a new $25 million seed funding few months after the company raised $8 million funds from the South African SME Fund.

Founded in 2009, 4Di Capital principal partner, Justin Stanford, said the outfit has since then played a key role in uplifting startups across different parts of the continent with the startups reaping from its hands-on experience and approach in growing and scaling new businesses in Africa.

“Having spent the past 13 years refining our investment strategy and expanding our footprint past South Africa into the East African market and beyond, we look forward to collaborating hand-in-hand with our new partners,” Stanford said in a statement on Wednesday while announcing the funding.

The new fund which was created in partnership with DotEXe Ventures in Mauritius, Stanford said, will help 4Di Capital invest in more viable startups in Africa.

“Unlike other markets globally which have become saturated, the African market still represents an opportunity for investors.

“The investment landscape is less competitive, resulting in more favourable valuations and terms, and thus the opportunity to potentially achieve higher returns,” Stanford added.

Continue Reading

EDITOR’S PICK

Politics10 hours ago

Tanzanian president, Samia Hassan, positions to become party, CCM’s chairperson. Will she get it?

Tanzania’s president, Samia Suluhu Hassan is in a firm position to grab the heart of her political party, Tanzania’s Chama...

VenturesNow11 hours ago

Nigeria’s apex bank, CBN, introduces new cash withdrawal policy but legislators aren’t impressed. Here’s why

The lower chambers of Nigeria’s legislative house, the House of Representatives have asked the Central Bank of Nigeria (CBN) to...

Musings From Abroad12 hours ago

Months after acquisition, Tata Group to spend $400 million to refurbish Air India

Following the acquisition of Air India by the conglomerate, Tata Group, the airline will spend more than $400 million to refurbish...

VenturesNow13 hours ago

South Africa’s coal exporter, Thungela Resources, expects doubled profit for 2022

One of South Africa’s main coal exporter, Thungela Resources (TGAJ.J) on Thursday revealed that it expects its full-year profit to...

Metro14 hours ago

Nigerian Army denies Reuters reports of forced “abortion programme” for Boko Haram victims

The Nigerian Army has debunked a report by international media outfit, Reuters, which indicted the military authorities of forcefully terminating...

Culture15 hours ago

Restaurant owned by Nigerian named among top 200 in South Africa

A restaurant owned by a Nigerian entrepreneur, Ken Ayere, in South Africa, Hombaze African Cuisine, has been named in the...

Tech15 hours ago

Mastercard Foundation launches $200 million fund to support female-centric African SMEs

The Mastercard Foundation Africa Growth Fund (MFAGF), has announced the launching of a $200 million funding initiative for female-centric Small...

Sports16 hours ago

Cameroon keeper Onana throws more jibes after World Cup controversy

Cameroon’s first choice goalkeeper, André Onana, has thrown more jibes on the country’s football authorities following a controversy that rocked...

Musings From Abroad1 day ago

25 far-right group supporters arrested as Germany foils coup attempt

Germany on Wednesday foiled a violent overthrow of the state to install as national leader a prince who had sought backing from...

Politics2 days ago

South Sudan’s ruling party endorses President Salva Kiir for next election

The ruling party in South Sudan has endorsed President Salva Kiir as its candidate in the country’s delayed election scheduled...

Trending