Tecno, Infinix and Itel could also be unfamiliar names to North American and European customers, however in a lot of the creating world they’re generally known as powerhouse manufacturers belonging to the world’s least-known main telephone maker – Transsion.
Even in China the Shenzhen-based firm is little identified, creating its enterprise virtually solely outdoors China’s borders.
Final 12 months Transsion shipped 58.4 million handsets, together with 3.6 million function telephones, and raked in 65.6 billion Chinese language yuan (US$9.8 billion) in income, three-quarters coming from Africa and rising Asia.
Analysis agency Frost & Sullivan ranked Transsion because the world’s no. 3 handset model by models shipped and eighth largest by income in 2025, based on the agency’s Hong Kong IPO prospectus.
However its Hong Kong debut Thursday was a fizzer, with the inventory dropping 5% earlier than ending the week 2% beneath the IPO value.
Transsion might hardly have picked a worse time to go public. The worldwide handset market is in full retreat. Smartphone shipments slumped 20% in Q3 to their lowest degree in 14 years, Counterpoint Analysis has revealed.
The largest single issue is the hovering price of handset reminiscence, a side-effect of the AI reminiscence growth.
Reminiscence prices soar
Transsion mentioned its reminiscence expense soared 147% within the first 4 months of 2026, driving its smartphone common promoting value (ASP) up 31%. That is a problem for a corporation that final 12 months had a gross margin of 18.7% and an working margin of 4.4%.
Counterpoint senior analyst Shilpi Jain mentioned the “excessive reminiscence scarcity” was forcing customers to carry on to their units longer and being extra seemingly to purchase second-hand telephones.
She mentioned that whereas the top-end of the market remained comparatively resilient, “the hole between premium and price-sensitive segments” was widening.
Counterpoint co-founder Neil Shah presents an much more pessimistic outlook. He expects the low-end section to contract by round 14% this 12 months and one other 3% to 4% subsequent 12 months.
Shah mentioned a telephone costing $150 two years in the past can now price round $300 with none advance in performance. The reminiscence squeeze might drive round 100 to 150 million telephones out of the market, he predicts, with many funds customers unable to afford a brand new telephone.
Transsion’s IPO raised 3.06 billion Hong Kong {dollars} (US$394 million), which it mentioned it will spend on AI improvement, upgrading its OS and brand-building.
