In 2024, smartphones will usher in a new round of "growth season". According to the latest ** from market research firm TechInsights, the global smartphone market will return to low-single-digit growth in 2024. This is undoubtedly good news for the majority of mobile phone manufacturers, but how to gain a firm foothold in the gradually warming but fiercely competitive market requires them to "show their powers".
Transsion's approach is to continue to focus on the needs of consumers in emerging markets, promote product structure upgrading through technological innovation, focus on the mid-to-high-end market, and achieve brand advancement on the basis of consolidating its global market position.
In the middle of the year, the potential of the high-end market burst out, and Transsion took the lead in layout
Since the second half of 2021, the global smartphone market has been sluggish, and the market will remain sluggish in the first half of 2023. Until the second half of 2023, the global mobile phone market began to heat up gradually. According to IDC's Worldwide Quarterly Mobile Phone Tracker, the global smartphone market grew by 8% year-on-year in the fourth quarter of 20235%, up from 73% expected growth. With the promotion of 5G technology and the demand for switching from feature phones to smart phones, the global smartphone market may usher in a broader development space in 2024.
Behind the data, it is worth noting that in the trough of the industry, high-end smartphones are the only segment in the entire industry that grows against the trend. According to Counterpoint Research, the premium segment is expected to account for nearly a quarter of the global smartphone market sales in 2023, with 60% of revenue. Experts from the agency noted that "considering the importance of smartphones in the lives of users, consumers are willing to pay more for high-quality devices in order to extend their service life." ”
In other words, as a super mobile terminal in the era of the Internet of Everything, the position of smart phones cannot be replaced by any other category. At present, with the development of artificial intelligence, mobile phones have increasingly become the core entrance for consumers to connect various application scenarios and terminals, and they are willing to invest more in it to obtain more advanced and perfect functional experience.
This is also the reason why the current mobile phone manufacturers have increased technology investment and developed high-end products.
It is understood that Transsion Holdings has already begun to lay out the mid-to-high-end market, drive the upgrading of product structure with technological innovation, and strengthen the competitiveness of its mid-to-high-end products.
According to the financial report, in the first half of 2023, Transsion Holdings' R&D investment will be 107.3 billion yuan, a year-on-year increase of 2058%。R&D investment in the third quarter of 2023 is 6$1.9 billion. At the end of last year, TRANSSION officially settled in the new headquarters building of the Liuxiandong Headquarters Base in Nanshan District, Shenzhen, which will serve as the global strategic hub of TRANSSION and support TRANSSION's business expansion in emerging markets around the world.
With such a huge R&D investment and strong backing, TRANSSION actively promotes the upgrading of high-end products. In 2023, TRANSSION adheres to the principle of dual user and technology drive, and has successively launched the first left-right folding smartphone, the Tecno Phantom V Fold, the first clamshell-folding flagship Tecno Phantom V Flip 5G, and the ultra-clear front-camera flagship mobile phone Infinix Zero 30 5G. These high-end products have attracted much attention and popularity in the consumer market, and have also greatly helped Transsion gain a firm foothold in emerging markets and achieve new breakthroughs in performance.
In the field of AI large models, Transsion Holdings is also continuing to deploy. It is understood that in May 2023, Transsion Holdings also released the Tecno Camon 20 equipped with AIGC intelligent assistant. In addition, TRANSSION Holdings has entered the development and verification stage of related technologies based on AIGC image automatic generation, which will be applied to the level of ** organization and content recommendation in the future. This has further boosted the growth of Transsion Holdings' smartphone business.
Take the mobile phone as the starting point, 2Year of TranssionThe growth engine "blooms in more places".
In addition to technology, the extensive coverage of product lines, the steady advancement of the multi-brand strategy, and the increasingly mature ecological model are also growing into significant growth factors supporting Transsion's rapid development.
First of all, starting from the mobile phone business, Transsion actively promoted the localization of the ecological model of smart hardware categories, and established a multi-brand and product series to meet the needs of different consumers, including the digital accessories brand Oraimo and the household appliance brand Syinix, at the same time, the three major mobile phone brands Tecno, ITEL and Infinix have also begun to vigorously expand the category business, launching mobile phone basic accessories, smart wearables, TWS earphones, laptops, TVs and other products. Create a full-scene smart life experience. It is understood that TRANSSION's products have entered more than 70 countries and regions around the world, especially in Africa and South Asia, forming a strong brand influence, which has laid a solid foundation for TRANSSION's expansion in emerging markets.
On the other hand, in the era of mobile Internet where "traffic is king", Transsion's OS tailored for the African market has become one of the mainstream operating systems in major emerging markets around the world, such as Africa, giving it an early advantage in traffic entry. Focusing on Transsion OS, Transsion has developed many tool applications such as app stores, advertising distribution platforms, and mobile phone manager, such as TRANSSION's BoomPlay **stream**, which has become the largest **stream** platform in Africa, and is very popular among young Africans; Relying on Transsion's deep influence in the African market, Scooper has attracted a large number of users through localized content and services, and has developed into one of the leading information flow and content aggregation platforms in Africa.
It can be said that TRANSSION has taken the right step in every step, and its business ecological model of "mobile phone + mobile Internet service + home appliances and digital accessories" has gradually matured, and has shown strong competitiveness and multi-faceted advantages, which not only improves user stickiness, but also brings continuous business growth, truly making TRANSSION grow from a mobile phone manufacturer to a smart terminal and mobile Internet service provider trusted by more people, and its global influence has been further enhanced.
According to IDC's global quarterly mobile phone tracking report, Transsion's smartphone shipments in the fourth quarter of 2023 reached 28.2 million units, a year-on-year increase of 686%, jumping to fourth place in the world for the first time, which is a perfect end to Transsion's 2023.
In 2024, the global mobile phone market will usher in recovery and growth, and at the same time, it will also set off a new round of "market fighting", and the uncertainties facing the development of Transsion still exist, so Transsion needs to continue to adapt to the market, find new growth points around demand, and achieve long-term sustainable development in the highly competitive market.