The name Transsion Holdings may not ring a bell to many but from an obscure start-up, the company has grown to become one of the leading brands in several regions, especially in Africa. In fact, the company is dubbed as Africa’s Mobil Phone King. In case you are still wondering, Transsion Holdings is the parent company of the Tecno, Infinix, iTel and Spice brands. The company is now eyeing further expansion in other markets and is seeking investors to back its plans. The Chinese start-up has reportedly applied for listing on The Shanghai Stock Exchange. The information shows that the sponsor of the company is CITIC Securities.
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Transsion Holdings was established in Shenzhen in 2013 with a registered capital of 720 million yuan. Its main market is on the African continent and Nigeria is perhaps its largest single market on the continent. The company has also made inroads into India in recent times. Available data shows that in 2017, the company exported 129 million mobile phones, with sales exceeding 20 billion yuan, accounting for 45.9% of the market share in Africa. The Tecno brand is the most popular among its brands and that popularity is hinged on the affordable pricing and the powerful camera offered on the model, especially recent offerings. We should add that bigger Chinese brands like OPPO, Xiaomi, Vivo etc, are eyeing the Africa market known for its sheer size. Thus, Transsion’s bid to secure more funds for further expansion is a good idea.
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