Mobile phone company Transsion sees 46% increase in gross profit year-on-year – Pandaily

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Shenzhen-based electronics manufacturer Transsion released its latest performance report on Friday. In 2021, the company’s revenue totaled 49.254 billion yuan ($7.78 billion), a year-on-year increase of 30.33%. Gross profit attributable to parent company owners was 3.92 billion yuan ($619.44 million), a year-on-year increase of 46.08 percent.

In addition, gross profit attributable to parent company owners after deducting non-recurring gains and losses increased 33.31% year-on-year, while earnings per share increased 45.83% year-on-year.

As for the reasons for this change in performance, Transsion said that in 2021 the company continued to innovate in science and technology, increase investment in research and development and improve the experience of the end user and the competitiveness of mobile phone products. Additionally, the company continued to increase brand development and promotion in markets outside of Africa. Based on continued growth in various African markets, revenue from markets outside Africa also increased year-on-year.

Transsion, which was established in 2013, owns smartphone brands TECNO, Itel and Infinix, digital accessories brand Oraimo, home appliance brand Syinix and after-sales service brand Carlcare. The global sales network covers more than 70 countries and regions in Africa, the Middle East, Southeast Asia and South Asia.

SEE ALSO: Transsion Subsidiary TECNO Unveils Polychromatic Photoisomer Technology

In the Top 100 “African Consumers Favorite Brands 2020/2021” published by African Business, TECNO, itel and Infinix ranked 6th, 21st and 25th respectively.

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