According to IDC statistics, Chinese smartphone maker Transsion captured 8.6% of the global market in the third quarter, losing only slightly to Oppo, which ranks fourth with 8.9% market share. At the same time, the first company’s smartphone shipments increased by 35%, and overall, based on the dynamics of business development, we can expect it to reach fourth place in this ranking.
From the beginning of this year up to and including September, as explained Nikkei Asian ReviewTranssion’s revenue rose 20% year-over-year to $5.8 billion and net income rose 70%. The company is a relatively new player in the smartphone market, its predecessor was founded in Shenzhen, China in 2006 and has been operating under its current name since 2013. Transsion’s previous business strategy has been to focus on the African, Middle East and South Asian markets, and the company is starting to pay off in today’s environment as these regions drive revenue growth. In the last quarter in particular, Transsion managed to increase smartphone shipments by 35% to 26 million units compared to the same period last year.
Last year, Transsion captured 40% of the African smartphone market with its Tecno, Itel and Infinix brands and is also a leader in Pakistan and Bangladesh. The popularity of Transsion products is also growing in poor countries in the Middle East. Transion has smartphone manufacturing facilities in Ethiopia, India and Bangladesh. The company owes part of its success in local markets to its efforts to tailor software to the needs of customers in specific countries and regions. For example, it has achieved better facial recognition system performance for users with darker skin. Transsion cannot miss the opportunity to gain a foothold in the upper price segment: in February, the company introduced its first smartphone with a flexible display and began investing in artificial intelligence technologies.