(Yicai Global) May 7 -- Transsion Holdings, dubbed the 'king' of Africa's mobile phone market, said the entry of bigger Chinese rivals Huawei Technologies and Xiaomi into that continent and India has had little impact on the company's market position.

Transsion's statement came in response to an enquiry from the Shanghai Stock Exchange about the effect of the tech titans' move into those and other overseas markets, China Securities Journal reported on its website. The Shenzhen-based mobile phone maker plans to list on the bourse's forthcoming Science and Technology Innovation Board.

Newly emerging markets such as Africa are huge and sectoral competition is limited, the report said Transsion told the exchange. The firm has set up a research and development system tailored to local needs, as well as an improved sales, branding and after-sales services, and a localized system for human resources and large-scale data resources in Africa, it added.

Transsion also said it has a network traffic advantage in the mobile internet business across the continent and has built a competitive barrier in newly emerging markets.

The Shanghai Stock Exchange had asked the company about its lower revenue growth rate and asked about plans and the influence of its main rivals' entry into the African, Indian and other overseas markets.

Founded in 2013, Transsion ventured into India, Bangladesh and other regions of Southeast Asia in 2017. Africa and Asia spurred a rapid uptick in the firm's income. But annual growth in its business income slowed to 13 percent from 72 percent in 2018 after shipments declined due to fierce competition in the Indian market, it said.

Business revenue reached about CNY20 billion (USD3 billion), and CNY22.6 billion, respectively, in 2017 and 2018. Africa accounted for 76.9 percent and 77.3 percent, respectively.

In response to a question about its many acquisitions, Transsion said its targets' core businesses include R&D, sales, after-sales services and the maintenance of handsets as well as the ownership of trademarks and properties. The reason for the acquisitions was to avoid horizontal competition, reduce affiliated transactions and benefit the company's production and operations.