CAIRO - 28 December 2022: The Chinese company, OPPO, denied its intention to exit the Egyptian market, stressing that all its activities and businesses in Egypt are proceeding normally.
The company said in a statement Tuesday that it considers the Egyptian market one of the most promising markets in the region, and has great confidence in the great potential available in it.
It plans to continue its strategy in Egypt during the coming period, and to continue searching for more business opportunities with local partners.
Many users of social media platforms circulated posts indicating that OPPO had stopped its activities in Egypt and closed its offices.
Last September, the Chinese company OPPO signed a memorandum of understanding (MoU) with the Information Technology Industry Development Agency (ITIDA), in the presence of Prime Minister Mostafa Madbouli; to establish a mobile phone factory in Egypt, with a production capacity of 4.5 million units annually, and with investments of about $30 million.
This factory is expected to be a regional hub for the company to manufacture and export to the Arab and African markets.
Minister of Information and Communication Technology, Amr Talaat, said in a previous press statement, that the production will start during the next year, and the factory will provide 900 new job opportunities, in addition to 6,000 Egyptian workers currently working at OPPO.
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