Heightened Competition in the African Phone Market Weighs on Transsion Profits

Shenzhen-based mobile phone giant Transsion Holdings has dominated the African market for over a decade, outpacing Samsung, Apple, and a handful of other Chinese brands. But now, the maker of Tecno, Itel, and Infinix brand phones say their rivals are catching up and hammering the company’s profits.

On Monday, the company announced a stunning 40% drop in third-quarter profits compared to the same time last year. Total revenue for the quarter came in at $2.3 billion, down 7.2% compared to Q3 2023.

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by Eric Olander

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