TECNO’s Premiumization and Regional Expansion Drives Transsion’s Best Quarter Ever

In response to Counterpoint’s Market Monitor service, TECNO, an important mannequin in Transsion’s family, seen smartphone shipments develop all through all areas in Q3 2023, by a robust 62% YoY. This underpinned Transsion’s outcomes, which seen smartphone shipments for the quarter improve 36% YoY.

With 4% of the worldwide smartphone market in Q3 2023, TECNO is now the world’s 9th largest smartphone mannequin. Their progress is very spectacular considering market share has higher than trebled in merely three years. This moreover helped dad or mum agency Transsion turning into certainly one of many world’s prime 5 smartphone OEMs.

Whereas TECNO’s shipments have elevated, product mix enchancment meant that the proportion of higher-value devices provided has expanded rather more. In response to Counterpoint’s Worldwide Handset Model Product sales service, almost all their smartphones are literally outfitted with 4G or 5G connectivity. 5G smartphones, which TECNO started transport solely since Q1 2022, have grown rapidly, with amount rising higher than 600% YoY by Q3 2023. Furthermore, product sales amount of TECNO’s extreme end CAMON sequence and premium end PHANTOM sequence elevated 53% YoY, outpacing company-wide progress fees. The PHANTOM series now accounts for almost 5% of TECNO’s world product sales, which is up from solely 0.3% a 12 months prior to now. This may in all probability be considerably encouraging for TECNO because it’s a sign that its effort to compete throughout the mainstream of world smartphone enterprise is bearing fruit, and TECNO is turning into accepted by consumers exterior of Africa as a persuasive mannequin.

In the long term the enlargement trajectory is favorable, considering megatrends like urbanization, fast-developing connectivity infrastructure, attribute phone to smartphone migration, cheaper parts, and the unfold of digital suppliers, all of which can be extra prone to accumulate tempo.