Transsion Keeps Surging: Revenue and Profit Grow by Over 75% YoY in 3Q 2020
Chinese handset maker Transsion (688036:SH), which is focused on the African and other emerging markets, announced its third-quarter financial results in 2020. Growing by 48.15% year-over-year, the company's revenue reached CNY 25 billion, while the net profit during the first three quarters also increased by 50% year-over-year, amounting to CNY 1.95 billion. Compared to last quarter's around 30% y-o-y growth, Transsion's third-quarter carried its revenue boost further to an impressive around 50% level.
(Equal Ocean, Oct 29)
Flora Tang's key takeaways:
- COVID lockdowns have actually driven demand for smartphones on the continent and Transsion is one of the top beneficiaries of this trend.
- Beyond hardware, Transsion is also a leading regional provider for video and music streaming, IM, browser and mobile payments.
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Nov 9, 2020
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