While other phone brands suffered major decline, by up to 40% for some, Transsion’s Tecno emerged almost unscathed.
While factories in China are reopening, other countries are going into lockdowns. These lockdowns are hurting all of Africa’s biggest smartphone manufacturers, especially Transsion.
EasyBuy is a phone financing service. The app provides loans for users to buy smartphones. Users first have to make 30% down to get a three-month or a six-month loan. Interest rates are between 6% and 9% per month depending on the duration of the loan.
Jumia and Transsion, two of Africa’s largest tech businesses had their IPOs in 2019. But their fortunes have largely gone in opposite directions since.
As Mara Group launches its smartphone factory in Kigali, how much will a regional play be critical to its success?
As iPhone sales continue to dip and Apple is paying more attention to its services, the Chinese phone manufacturer leading the market in Africa, Transsion Holdings, seems to be toeing the same line and developing a service portfolio for itself.