After its closure and layoffs.. Oppo is investing $20 million in Egypt

Today the users of smartphones, especially the phones of the Oppo Company in Egypt, are surprised by sad news, as the Oppo Company has been laid off, amidst expectations of ending its business in Egypt.

The two Chinese companies Oppo and Realme for mobile devices closed a number of their branches in different places in Greater Cairo and the governorates, and laid off a large number of their employees during the recent period.

The two companies Oppo and Realme in Egypt suffered losses due to the unavailability of quantities of mobile phones imported from outside Egypt, after the import operations were stopped.

·        Oppo close

Recently, an electronic conversation was published, believed to be from one of the managers of the OPPO company branches in Ismailia Governorate, in which it says: “Due to the difficult economic conditions that the company is going through, the Ismailia branch will stop at the end of this December, with the company’s pledge to receive everyone their financial dues, and it is expected to return to work after the start of Operating the OPPO factory inside Egypt.

·        Unavailability of mobile phones

A source familiar with the Chinese company, OPPO Egypt, said that the decision to close a number of the company's branches in Egypt and reduce the number of employees comes due to the unavailability of mobile phones and the lack of their components as a result of imposing import restrictions.

No official publication or decision has been issued by the company so far, and experts expect OPPO to continue working, after the improvement of economic conditions and the completion of building the company's factory, and the buying and selling process within the branches will be temporarily stopped and the maintenance process will continue only.

·        Central bank decision reason

News circulated about the closure of the “OPPO” company from the Egyptian market until the import and customs clearance operations are facilitated, as the Central Bank of Egypt issued a set of new import rules in the last quarter of the current year 2022, and they were introduced recently and include stopping dealing with collection documents in the implementation of all Import operations and work with documentary credits.

·        With an investment of about $20 million

It should be noted that OPPO will not withdraw its investments from Egypt, describing it as continuing to establish a smart phone factory, to manufacture mobile phones locally, as the company signed during the recent period a memorandum of understanding between the Information Technology Industry Development Agency and ITIDA, according to which it will establish a mobile phone factory in Egypt, with a card, Productivity of 4.5 million units annually, with investments of about $20 million