On May 2nd, according to Canalys, a research firm, the global smartphone market in Q1 2024 grew by 10% year-on-year, reaching 296.2 million units.
The top five smartphone manufacturers in the first quarter were Samsung, Apple, Xiaomi, Transsion, and OPPO. Transsion, known as the 'King of African Mobile Phones,' showed impressive performance."
In the first quarter, Transsion shipped 28.6 million phones, capturing a 10% market share and achieving a robust 86% growth.
According to the financial report, Transsion's revenue in 2023 reached 62.295 billion yuan, a year-on-year increase of 33.69%, with a net profit of 5.537 billion yuan, marking a 122.93% year-on-year growth.
In its core business, Transsion's mobile phone revenue reached 57.348 billion yuan, a year-on-year increase of 34.88%, accounting for 92.06% of total revenue, with a total shipment of approximately 194 million units.
Transsion, a solid domestic manufacturer, operates under the full name "Transsion Holdings Co., Ltd." based in Shenzhen. Its main products include the three major brands TECNO, iTel, and Infinix, offering both feature phones and smartphones.
The sales regions are mainly focused on emerging markets globally, such as Africa, South Asia, Southeast Asia, the Middle East, and Latin America.
Notably, in October last year, CCTV aired a large documentary series called "The Road to Prosperity," which featured Transsion mobile phones.
The documentary highlighted features tailored for the African market, including more three-dimensional facial contours, photo modes suitable for darker skin tones, and eye contrast adjustments that align with local aesthetic preferences. Chinese mobile companies introduced "customized beauty" functions in Africa.
Furthermore, there are features like the "N Card N Standby" mode tailored for local network operators, as well as designs emphasizing deep bass, showcasing how Chinese mobile brands are leveraging localized services to capture the market and become the top players in Africa.
