The first half of 2024 has passed, and there is a Chinese mobile phone brand with the second market share in the world. However, you may not have heard its name.

That brand is Transsion.

A few days ago, the listed company Transsion Holdings (688036. SH) disclosed its 2024 semi-annual report. According to IDC data, in the first half of 2024, Transsion's share of the global mobile phone market will be 14.4%, ranking second among global mobile phone brand manufacturers, of which smart phones will have a market share of 9.1% in the global smartphone market, ranking fourth.

Previously, in 2023, Transsion Holdings will have a market share of 14.0% in the global mobile phone market, ranking third among global mobile phone brand manufacturers, and a smartphone market share of 8.1% in the global smartphone market, ranking fifth. In just half a year, it has advanced a position in both the mobile phone market share ranking and the smart phone market share ranking. Since last year, the company's sales have been like a hanging.

In 2023, the global consumer electronics market will be sluggish, with the global mobile phone market falling by 3.2% year-on-year, while Transsion Holdings shipped 194 million mobile phones, a 24% increase against the trend.

Entering 2024, the mobile phone market is gradually picking up, and Transsion is more like riding a rocket.

According to analyst agency Canalys, the global smartphone market grew by 10% year-on-year in the first quarter of 2024, while Transsion smartphones achieved a strong growth of 86% in the same period.

is so brave that it seems to be not in the same market as other mobile phone manufacturers. Could it be that other friends are still playing ordinary clothes, but Transsion has played a knife 99999, and the perverted suit of the Dragon Slayer Treasure Knife will be sent with a click?

What did Transsion do right? To put it simply, it is a market that others look down on, and it does.

Transsion's basic plate is in Africa.

In the eyes of many manufacturers, Nagada, Africa, high-end machines cannot be sold, and the cost performance cannot be rolled up. However, after research, Transsion found that in Africa, there is no need to fight with any fruit family, Huajia and Mi family, and it is backed by China's supply chain, not to mention how big the advantage is here. In 2008, Transsion went to Africa to sell mobile phones, and in 2016, Transsion became the king of mobile phones in Africa, and in the fourth quarter of 2023, Transsion has more than half of its market share in Africa! Now in the African market, Samsung, Xiaomi, realme, OPPO, the second to fifth places are added together, and they are far from enough to upload the sales of audio.

Why has TRANSSION been so successful in Africa?

Because it understands African brothers and sisters too well. The African brothers have a limited budget, and Transsion focuses on a cheap one. According to the data at the end of June 2019, the average selling price of Transsion smart phones was 441.73 yuan/unit, and the average selling price of feature phones was 62.38 yuan/unit. Although it sells cheaply, it can't stand the volume! From 2016 to 2023, Transsion Holdings' profits increased by more than 80 times.

In addition, everyone has a love for beauty, and African girls and boys also like to take selfies. Transsion conducts targeted beauty optimization for black skin tones.

The signal in Africa is unstable, so Transsion has launched a "four cards and four standby" mobile phone, which can switch networks at any time. Many places in Africa have nothing to offer, and Transsion is working hard to fill the gap in the offline channels for mobile phone sales in Africa. It has even developed its own leading retail logistics system.

Focusing on what the African people need, Transsion will make you something. It not only sells mobile phones, but also drives local employment and infrastructure. Relying on this set of combination punches realized in Africa, Transsion is invincible in third world countries, and it is a good one! At present, Transsion has the largest market share in Pakistan and Bangladesh. In the first quarter of this year, it accounted for 18% of the market share in Southeast Asia. In the second quarter, it ranked fourth in Latin America, and the sales growth rate of mainstream brands was the first, with a year-on-year increase of 52%. However, today's Transsion still faces challenges. Although the low-end machine can go in volume and sell well, the profit is also really low. In addition, there is actually no threshold for the low-end market, and anyone can get in. Now the Southeast Asian market has been full of Chinese mobile phone brands, killing into the Red Sea. To grab the share and grab the last, we still have to compete with intelligence and new technology. Transsion is also beginning to explore folding screens and even keep up with the wave of generative AI.

I wonder if Transsion will be able to bring us more high-end technology shocks in the future?

The success of Transsion illustrates a simple truth:

Science and technology benefit mankind and will eventually reach far and wide. Users everywhere in the world deserve to be satisfied, respected, and seen.

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