Transsion Holdings’ net profit increased by 27% in the first half of 2023, and its African market share remains stable at 40%

News from this site on August 29, Transsion Holdings announced its first half report for 2023 today. In the first half of the year, it achieved operating income of 25.029 billion yuan, a year-on-year increase of 8.31%; achieved net profit attributable to shareholders of listed companies 2.102 billion yuan, a year-on-year increase of 27.10%.

Among them, the net cash flow from operating activities increased by 7.621 billion yuan year-on-year. This is mainly due to the increase in sales volume and the rapid sales growth in the second quarter. Therefore, the corresponding purchase price for raw materials has not yet been paid, resulting in a significant reduction in cash paid for the purchase of goods in this period.

Transsion Holdings stated that the company is positioned in the technology sector The brand goes overseas and is committed to providing high-quality smart terminal equipment to users in overseas emerging markets, and providing users with Internet services based on independently developed smart terminal operating systems and traffic portals. Its main products are mobile phones from the three major brands of TECNO, itel and Infinix, including Feature phones and smart phones. During the reporting period, the company's industry status has not undergone major changes, and its sales areas are mainly concentrated in global emerging market countries such as Africa, South Asia, Southeast Asia, the Middle East and Latin America.

According to IDC statistics, Transsion Holdings’ share of the global mobile phone market in the first half of 2023 was 13.9%, ranking third among global mobile phone brand manufacturers. Among them, smartphones accounted for 13.9% of the global mobile phone market share. The mobile phone market share is 7.6%, ranking sixth. In the African market, Transsion Holdings’ African smartphone market share exceeds 40%, ranking first. In the South Asian market, Pakistan ranks first in smartphone market share; Bangladesh ranks first in smartphone market share; and India ranks sixth in smartphone market share.

▲ Tecno Phantom X2 flagship mobile phone

However, Tecno Holdings also stated that with the economic development, population growth and With the continuous improvement of communication infrastructure, major emerging markets such as Africa, South Asia, Southeast Asia, the Middle East and Latin America will be the main source of global mobile phone sales growth in the future. At present, the market penetration rate of smart phones in emerging markets is relatively low, and they are still in the transition stage from functional phones to smart phones. Functional phones still occupy a high market share. Due to the large mobile phone market space and growth potential in emerging markets, more and more mobile phone manufacturers have entered emerging markets, resulting in increasingly intensified competition in emerging markets.

Judging from the 2022 financial report, Transsion Holdings did not release revenue data for each region in the first half of the year. However, revenue in the African region was 20.633 billion yuan, a decrease of approximately 3.6 billion yuan compared with 2021. It is expected that the African market will face the challenges of saturation and difficulty in finding growth points, so it is necessary to find other emerging markets to continue expansion

According to financial report data, the number of R&D personnel of Transsion Holdings has reached 3,721, with an average salary of 22.84 million, an increase compared to 192,700 yuan in the same period last year

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