IN the beginning of this month, in an announcement, Transsion Holdings revealed that it has recorded a net profit rise of nearly 60 percent year on year in the first half of this year, with the figure reaching 1.72 billion Yuan (roughly 266 million US Dollars).
In case you are unaware, Transsion Holdings is the parent company of three popular smartphone brands, namely itel, TecnoÂ andÂ Infinix. The firm saw a net profit rise of 57.35 percent over last year in H1 2021, which also marks a rise of 626 million Yuan over this period. The company added that it saw a rise in its sales revenue due to the marketâ€™s recovery from theÂ CoronavirusÂ pandemic from last year along with other factors as well.
In addition, Transsion stated that it has continued to expand its presence in the African market since the beginning of this year, enabling it to better compete in the region. Meanwhile, it has also strengthened its brand image through various publicity and promotional efforts to increase its overall sales. The company further added that it has worked on exploring and optimizing smartphone models that will be suitable for new markets.
According to aÂ CNBetaÂ report, Transsion Holdings is also improving focus on certain key markets like India, Bangladesh, Pakistan, and other markets as well. At the moment, the company sells its products in more than 70 countries and regions across the globe and has been a notable player in markets like Africa, South Asia, Southeast Asia, the Middle East and South America.