The end of the year is approaching, and for migrant workers, the annual meeting is not only a long-awaited event, but also a symbol of the arrival of the year-end bonus. However, this year, there was a mobile phone giant that did not hold an annual meeting, but gave employees a year-end bonus, which was a big surprise.
The mobile phone giant is Transsion, and the news on January 26 surprised the industry, and Transsion announced that the year-end bonus for employees will be **30%. This news is particularly prominent amid the weak performance of the smartphone market.
In 2023, shipments in the smartphone market fell to their lowest level in nearly a decade. In addition to Apple, which still has a slight growth, most mobile phone manufacturers are in**, and Samsung is **13.6%。
Transsion, however, is a prominent exception. Last year, Transsion's mobile phone sales reached 94.4 million units, a year-on-year increase of 308%, ranking fifth in the world. This low-key giant was officially promoted to"Diamond King Lao Five"。
In addition, according to its annual performance forecast, its revenue exceeded 62.1 billion yuan last year, a year-on-year increase of 33%, and its net profit was about 5.4 billion yuan, a year-on-year increase of 121%.
Transsion's success is mainly dependent on the African market, with a market share of more than 50% at one time"King of Africa"。Transsion's brand tecno has a strong market share around the world, but things are not as simple as they seem.
TRANSSION's success lies in its in-depth understanding of the African market and meeting the needs of local users. Africa has a large number of telecommunications operators, limited coverage, and expensive communications, so most people have multiple mobile phone cards. To this end, Transsion has launched a smartphone that supports four SIM and four standby, allowing users to easily switch signals and save call costs.
In addition, considering that there are frequent power outages in Africa, Transsion mobile phones are equipped with large batteries to meet the needs of users. What's even more impressive is that Transsion has developed"Smart tanning"function, which solves the annoyance of African users**.
Transsion has achieved great success in the African market through its intensive cultivation strategy. However, with the saturation of the African market, Transsion had to seek new growth points. It has gradually entered the markets of the Middle East, Latin America and Southeast Asia, and has achieved impressive results.
Transsion's success lies not only in its product and marketing success, but also in its localization strategy. TRANSSION has a deep understanding of the needs of local users and has launched products and functions suitable for the local market. At the same time, Transsion has also established a strong after-sales service network, which has won the trust of local users.
Transsion's localization strategy also includes the launch of various localized applications, such as the software BoomPlay and the short social platform vsKit. These apps have been a huge success locally because they provide content that meets the tastes of local users.
TRANSSION's success also lies in the establishment of a strong sales network, through the establishment of a large number of offline retail stores, covering various regions and penetrating deeply.
Third, fourth, and fifth-tier cities. This strategy of deepening the market has enabled Transsion to establish closer ties with local users.
Although Transsion is not as good as some of the big players in terms of technology and scale, it has successfully opened up emerging markets through intensive cultivation, localization strategy and strong sales network, and has become the world's fifth-largest mobile phone manufacturer. Transsion's success tells us that even small characters can achieve long-term survival and development through appropriate strategies and attentive services.