Africa’s top phone vendor Transsion to list on China’s new high-tech board

Shenzhen-headquartered smartphone vendor Transsion Holdings has completed its pre-listing tutoring with Citic Securities, which takes it one step closer to its initial public offering via China’

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Africa’s top phone vendor Transsion to list on China’s new high-tech board

Shenzhen-headquartered smartphone vendor Transsion Holdings has completed its pre-listing tutoring with Citic Securities, which takes it one step closer to its initial public offering via China’s Science and Technology Innovation Board, the broker disclosed last week.

Transsion, a brand barely known in its home country because it focuses on sales in the African continent, is among hundreds of companies lining up to list on the high tech board which is predicted to start trading as early as July.

Transsion took a 34.3% market share in Africa’s phone space in 2018, outperforming Samsung with a 22.6% market share and Huawei with a 9.9% market share, data from research company IDC shows. The firm also shipped 6.4 million phones in India in 2018, accounting for 4.5% of the Indian market, ranking fifth among all vendors there.