Transsion has emerged as the world’s fourth-largest smartphone seller with a nine percent global market share in 2024. The company, which produces Tecno, Infinix, and Itel devices, has recorded a 15.23% increase in shipments, reaching 106.7 million units. Dominating Nigeria’s smartphone market with a 63% share, Transsion focuses on affordability and localized product innovations to maintain its competitive edge as competition increases.
Transsion, Nigeria’s leading smartphone vendor, has risen to become the world’s fourth largest smartphone seller, securing a nine percent global market share in 2024, as reported by Canalys. This remarkable growth, attributed to local brands Tecno, Infinix, and Itel, saw Transsion ship 106.7 million units, marking a 15.23% increase from the previous year’s shipments of 92.6 million units.
In Nigeria, smartphones remain the primary means for internet access, with urban penetration at 59% and rural at 26%, according to GSMA data. Transsion dominates Nigeria’s smartphone market, holding a 63% share, with only Apple, Samsung, and Xiaomi posing significant global competition. The overall smartphone market experienced a 7% increase in 2024 worldwide, reaching 1.22 billion units, after two years of decline.
In summary, Transsion’s strategic focus on localized product innovation, affordability, and extensive market penetration has positioned the company as a leader in the global smartphone market. As it navigates increasing competition, continued innovation and diversification into premium and fintech offerings will be crucial for maintaining its market edge. The growing youth demographic in Nigeria further supports potential growth, despite looming market saturation.
Original Source: businessday.ng
