Transsion Holdings, well known for device brands like Tecno, Itel and Infinix is a Shenzhen based company with about 38% of the African smartphone market share.
The Chinese underdog company that takes the lion’s share of the smartphone market in Africa is planning a clandestine listing that will make it one on the biggest publicly traded mobile phone manufacture in the eastern Asia country.
The move will see Transsion Holdings Company transfer a controlling stake to a Shenzen listed Shimge Pump Industry Group Company via an asset and share swap deal. This was according to a stock filing on Thursday.
Negotiations of the deal are still underway but the Tecno manufacture is keen to secure Shimge’s stock listing by all means according to Li Huijun, Transsion spokesman.
The Chinese company has been a lynch pin in developing markets where it has offered a range of affordable devices. From cheap USD 15 feature phones to USD 400 flagships like the Infinix Zero 5 and Tecno Phantom 8. Under their founder Zhu Zhaojiang, Transsion shipped about 12 million smartphones to the African continent in the first 9 months of 2017. Its cumulative sales volume has reached a landmark of more than 200 million Dual-SIM handsets.
Transsion uses a multi-brand strategy, launching different brands at different time phases based on the situation of target markets and the various consumers’ needs. Currently, Transsion owns four mobile brands, Tecno, itel, Infinix and Spice. The strategy has been key in helping it leapfrog big guns like Samsung Electronics Company and Apple Inc to sit comfortably on the Africa’s biggest smartphone supplier throne.
Since its establishment is 2006, Transsion has been moving forward and growing exponentially. It has made striking achievements, gained high recognition in the industry and attracted extensive attention from international communities. Its brand portfolio also comprises Carlcare for after-sales services, Oraimo for mobile accessories and Syinix for home appliance.
According to Li Huijun, only a handful of China’s major smartphone makers, from ‘Apple of China’ Xiaomi Corp. and Vivo to Oppo and Huawei Technologies are publicly traded.
At the moment, Transsion is still exploring options with Shimge Pump shares and no financial details have been agreed upon.
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