Mobile Phone Firm Transsion Achieves 46% YoY Increase in Gross Profits
Shenzhen-based electronics manufacturer Transsion released its most recent 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%. The gross profit attributable to owners of the parent company was 3.92 billion yuan ($619.44 million), a year-on-year increase of 46.08%.
Furthermore, the gross profit attributable to owners of the parent company after deducting non-recurring gains and losses increased by 33.31% year-on-year, while earnings per share increased by 45.83% year-on-year.
As to the reasons for this shift in performance, Transsion said that in 2021, the company continued to innovate in science and technology, increased investment research and development, and improved the end-user experience and product competitiveness of mobile phone. In addition, the company continued to increase the development and brand promotion of markets outside Africa. On the basis of continuous growth in various African markets, sales revenue of 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, household appliances brand Syinix and after-sales services 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 list for “The Favorite Brands of African Consumers in 2020/2021” published by African Business, TECNO, itel and Infinix ranked 6th, 21st and 25th, respectively.
