Shenzhen-based smartphone manufacturer, Transsion, confirmed that it would soon go public and its live trading information will appear on Shanghai’s STAR Market, according to TechCrunch.
The company has been generating remarkable sales revenue in Africa. It could raise up to $426 Million ($3 Billion Yuan) with the support of STAR stock exchange market.
Anyone can download Transsion’s IPO brochure. Moreover, its application regarding STAR Market listing is available on the website of Shanghai’s Stock Exchange.
Transsion is a leading smartphone seller in Africa with the name of Tecno. In addition, the African e-commerce giant Jumia has established a logistic facility in China, particularly in Shenzhen.
Transsion has set a smartphone production unit in Ethiopia and now it seems to enter the Indian smartphone market.
Transsion spokesperson told that the company has planned to utilize a raised amount of $426 Million. It would spend $227 Million on growing smartphone production facilities and $62 Million on R&D. The company proclaimed that it would establish an industrial park in India to assemble phones for Africa.
On a related note, smartphone division of a Taiwan-based consumer electronics company, HTC, has been in regression phase from the past few years. The company failed to maintain the holdover the market comprising strong competitors. Therefore, HTC completely pulled back business operation from some markets, like India.
Around 4–5 Years back, HTC had been one of the leading premium smartphone developing company. But slowly, Chinese smartphone manufacturers acquired a considerable market share by launching featured smartphones at reasonable prices. Last year, HTC withdrew its smartphone business from the Indian market.
Now, HTC seems to re-enter the unpredictable Indian market with a range of new smartphone models, according to a report published by 91mobiles. The upcoming HTC smartphones would possibly be high-end flagship handsets that the company expects to launch in India first.