Chinese Mobile phone brand Transsion continues to expand in emerging markets
On April 23, Chinese Mobile phone brand Transsion released its 2024 annual report. In 2024, Transsion achieved operating revenue of CNY 68.715 billion, a year-on-year increase of 10.31%; net profit attributable to shareholders of the listed company amounted to CNY 5.549 billion, a year-on-year increase of 0.22%; and non-deductible net profit amounted to CNY 4.541 billion, a year-on-year decrease of 11.54%.
Transsion is mainly engaged in the design, research and development, production, sales and brand operation of intelligent terminals with cell phones as the core, and its main products, three brands of cell phones, TECNO, itel and Infinix, including feature phones and smart phones, with sales regions mainly focusing on the global emerging market countries in Africa, South Asia, Southeast Asia, the Middle East and Latin America.
In 2024, the overall shipment of Transsion cell phones will be approximately 201 million units. According to IDC's statistics, in 2024, Transsion's share of the global cell phone market was 14.0%, ranking third among global cell phone brand vendors; of which, the share of smartphones in the global smartphone market was 8.7%, ranking fourth. Especially in the African market, the smartphone market share of Transsion exceeded 40%, maintaining the leading position for many consecutive years. In addition, in the South Asian market, Transsion ranked first in Pakistan with a smartphone market share of over 40%, first in Bangladesh with a smartphone market share of 29.2%, and eighth in India with a smartphone market share of 5.7%.
Transsion has its own R&D centers in Shanghai, Shenzhen and Chongqing. During the reporting period, Transsion's R&D investment as a percentage of operating revenue was 3.66%, an increase of 0.04 percentage points compared with the same period in 2023, with a focus on investment in technology areas such as imaging, AI, charging, and basic experience, in order to enhance the competitiveness of mid- to high-end products.
In addition to the cell phone business, Transsion has also actively expanded its business in expanded categories, including digital accessories and household appliances, with digital accessories brand oramio, after-sales service brand Carlcare and household appliances brand Syinix, etc. In 2024, the oramio brand was ranked in the “African Business”magazine's . In 2024, the oraimo brand rose to 81st place on African Business magazine's “Top 100 Most Loved Brands by African Consumers” list. Meanwhile, Transsion also continues to launch AIoT intelligent connected products and gradually build an AIoT intelligent ecosystem.
According to Transsion, its future corporate strategy will focus on solidifying its advantages in the African market, continuously expanding into emerging markets, building efficient R&D capabilities, accelerating the development of mobile Internet and category expansion, and improving operational excellence, with the aim of realizing balanced and synergistic development of smart terminals and mobile Internet businesses in emerging markets around the world through technological innovation and localized operations, and building a leading AIoT smart ecosystem.