Top phone maker in Africa Transsion increases registered capital by 11 pct to $114 mln
Tecno store in Uganda [File photo/Tan Yuhan (NBD)]
Dec. 9 (NBD) -- Transsion Holdings ("Transsion", 688036.SH), which dominates Africa's phone market with its Tecno brand, has increased its registered capital to 800 million yuan (about 114 million U.S. dollars) from previous 720 million yuan, according to enterprise information platform Tianyancha.
As of 14:27 on Monday, stock of Transsion rose by 1.33 percent to 39.51 yuan per share.
Headquartered in Shenzhen, Transsion this September got listed on the STAR market, China's answer to Nasdaq. According to its prospectus, in 2018, Transsion shipped 124 million phones globally and the revenue from Africa accounted for 77.3 percent of its global revenue.
In Africa, Transsion holds 54 percent of the feature phone market through its brands Tecno, Infinix and Itel, and in smartphone sales is second to Samsung and before Huawei, according to market intelligence firm International Data Corporation.