by Zhang Yi
Transsion Holdings, commanding over half of the market share, is the undisputed “King of Africa’s mobile market.” On February 25, it reported record-high revenue and net profit for 2024, yet concerns over declining margins and weaker Q4 performance loomed.
The company expects full-year revenue to reach 68.74 billion yuan (US$9.54 billion), up 10.35% year on year, while net profit grew just 0.96% to 5.59 billion yuan. The market reaction was subdued, with shares closing 0.27% lower at 97.71 yuan.
Despite record annual earnings, Transsion’s Q4 revenue fell over 9% to 17.49 billion yuan due to a high base from 2023. Core Q4 profit dropped 17.66%, highlighting margin pressure.
Total smartphone shipments climbed 12.7% to 106.9 million units, pushing its global market share to 8.6% and surpassing Oppo to rank fourth worldwide. However, H2 growth slowed compared to H1, when Transsion held 9.1% of the global market.
A Transsion spokesperson told Jiemian News, “Both existing and new markets are expected to see growth, and increasing both volume and price remain our targets for the year.”
Transsion is a smartphone-focused smart device company with a strong presence in overseas markets, particularly in Africa, South Asia, and Southeast Asia. Its key smartphone brands include TECNO, itel, and Infinix.
Betting on AI to drive growth, Transsion has integrated Alibaba Cloud’s Qwen model into TECNO devices and DeepSeek’s AI assistant into Infinix phones. The upcoming Infinix NOTE series will feature DeepSeek-R1.
During an investor exchange, Transsion’s Board Secretary Zeng Chun stated, “The company is actively exploring large models and interoperability technologies, building an architecture that enables AI-powered multi-device integration, AIOS-level application restructuring, AI edge applications, and AI cloud-edge coordination.”
The same Transsion spokesperson told Jiemian News, “Smartphones serve as an excellent gateway, and integrating DeepSeek will significantly enhance user experience.”
Infinix is set to host its first vertical-screen AI spring launch event in late March, centered around the Infinix AI∞ Lab, showcasing a full AI ecosystem covering gaming, lifestyle, AI smartphones, and AIoT devices.
Analysts expect AI investments to enhance competitiveness in emerging markets, though financial impact remains unclear. Transsion will unveil new AI products in March, including AIoT devices.
Transsion has pursued a diversification strategy, expanding into digital accessories, home appliances, and mobile internet services. It has established the Oraimo brand for digital accessories, Syinix for home appliances, and Carlcare for after-sales service. The company has also developed proprietary smart terminal operating systems, including HIOS, itelOS, and XOS. Yet, non-phone revenue remains just 7% of total sales. The company maintains dominance in Africa and leads in Pakistan, Bangladesh, and other key markets.
A Transsion spokesperson reaffirmed to Jiemian News, “Expanding product categories and mobile internet services remains our long-term strategy.”
Transsion settled a patent dispute with Qualcomm in January 2025 after a lawsuit in India. Meanwhile, four senior executives recently bought 157,500 shares for 12.69 million yuan, signaling confidence in the company’s future.
As Transsion faces competitive pressures and invests in AI and mid-to-high-end models, its ability to sustain earnings growth in 2025 will be closely watched.