SICO Electronics To Locally Produce The First Egyptian Smartphone in November

SICO Electronics will start producing its first locally made 4G smartphone in November, according to AlMal. SICO has been working in the electronics sector since 2003, and has been commissioning Chinese factories to produce its products, importing them under SICO’s brand for four years. With the company’s increase in production rate and enlarging market, building a factory in Egypt has become a feasible project and it is currently being built in cooperation with the Ministry of Communication and Information Technology, with funding from Chinese investors. The first phones are to be 58% locally produced, with the aim of reaching 70-72% within the first year and to be increased on the long run.

The investors received offers from various other Arab and African countries, but according to Engr. Mohamed Salem, Chairman and CEO of Sico Technology, Egypt won the deal due to the attractive location of the factory being in Assiut’s technological park, as well as the encouraging export laws, and the flotation of the Egyptian pound which renders the cost of the Egyptian worker, falling at about US$100-150, as cheaper than that of the Chinese worker, around US$600 per month. With the interest of the community in mind, the factory is being built to accommodate for disabilities as the production line is to consist only of workers with disabilities.

Engr. Mohamed Salem hopes for an eventual market share of 15-20% in every country where Sico products will be available, which he sees as possible due to the high quality of the products in exchange for affordable prices: the flagship phone - called Diamond - costs LE2000 with specs that can nearly compete with some of the global brands.

Watch an interview between Engr. Mohamed Salem and Lamis Elhadidy discussing the history of the company as well as how he envisions the future of the company.