Transsion Holdings, makers of the three top mobile devices dominating the African market in the form of TECNO, Infinix, and Itel, has confirmed that it will be listing on Shanghai’s recently opened STAR Market.
STAR is a securities trading board run by the Shanghai Stock Exchange for technology companies in China.
Some months back, it was reported and now it has been confirmed.
It is estimated that the company could raise up to 3 billion yuan (or $426 million). It wants to use most of the funds (1.6 billion yuan or $227 million) to build more phone assembly hubs and around 430 million yuan ($62 million) on research and development, as well as building phone assembly hubs in African and other emerging markets.
This would signal more job opportunities and the growth of technology resources for Africans, especially in Transsion Holdings’ major markets in Nigeria, Kenya, Tanzania, Ethiopia, and Egypt.
Transsion Holdings currently controls the African phone market through bestselling TECNO, Infinix, and Itel phones.
In 2018, Transsion Holdings sold 124 million mobile phones globally. According to IDC figures for 2018, Transsion ranks 4th in global mobile phone brands and hold the largest market share in Africa.
Yeah. Let’s hope this will make them to start using Snapdragon in their phones
I think it’s a great news for them anyway
Watch out for Xiaomi
I once liked Tecno products
But not anymore
Good for them… I don’t like their products any longer
All good
I am no longer their fan… Am now xiaomi fan
Good for them
Good for them… Team Xiaomi…
The amount of rubb-ish devices these. Guyss produce is just sad
My Xiaomi Note 5 AI processor better than the phantom 8 processor
The phantom 9 is using my Xiaomi Note 5 processor.. Like who does that ????
Phone i bought 50k selling same processor 150 plus
if in this age you don’t know the difference between coldstone ice cream and supreme ice-cream. you should be flogged, samething applies to infinix and other better brands (samsung, huawei, xiaomi, one plus, nokia e.t.c)