(Yicai Global) Nov. 20 -- Shenzhen Transsion Holdings Co., a provider of mobile communications products in China, leveraged its low prices and overtook Samsung Group this year to become the largest mobile phone company in Africa. It is entering the Indian market, the Financial Times reported.
Some 57 percent of the 216 million handsets sold in Africa last year were feature phones, per information from International Data Corp. Transsion sold more than 50 million feature phones and 11 million smartphones in Africa in the first half, surpassing its South Korean competitor and consolidating its position as the leader on the continent.
Transsion ranked fourth in terms of units sold worldwide, following Samsung, Apple Inc. [NASDAQ:AAPL] and Huawei Technologies Co. It placed 13th by sales value, as its phones are cheap.
The group may sell 100 million units in Africa this year and generate more than USD3 billion in revenue, Transsion founder and Chief Executive Zhu Zhaojiang said.
The company works with smaller margins than its competitors as some of its devices go for as little as USD10, and it will ship out 120 million phones this year, making it China's largest handset exporter, he said. "In the future our focus will be on north Africa, India and the Middle East."
Sales in India will help the firm sell about 20 percent of its phones outside of Africa this year, Zhu said. The group is building a factory in India, where it ranked fourth in the fourth quarter of last year.