Kolkata: Tecno, one of Transsion Group's leading smartphone brands, aims to become one of the top five smartphone brands in the Indian smartphone market by 2024, a senior company official said. The company is focused on premiumization and focusing on metropolitan cities to achieve its ambitious targets, he said.“The Indian smartphone market is aging and consumers are demanding more premium features and experiences. By 2024, we plan to launch 24 new models, 50% of which are 5G compatible. said Arieet Thalapatra, CEO, Tecno Mobile India.
The brand has traditionally had a strong presence in Tier-II cities and lower thanks to its affordable and feature-rich smartphones.
Tecno, which is ranked sixth in the Indian smartphone market, has recently moved significantly towards premiumisation.The company's average selling price increased from Rs 11,000 to Rs 12,000 in January 2023 to Rs 18,000 to Rs 19,000 in December 2023. The company targets significant growth in the above Rs 15,000 segment and plans to sell 1.5 lakh devices4 in the year 2025 compared to Rs 7,254 crore. for sale in 2023, according to reports.
“With our strong focus on innovation and design, we can benefit from this trend. "Tecno's foldable cellphone range will further add to the strength of the Phantom sub-brand," he said on the sidelines of the launch of the Spark Go 2024 consumer cellphone.
The company's premium smartphone portfolio includes the Phantom series, which includes foldable smartphones. “5G is the future of smartphones, and we are committed to bringing it to a wider range of consumers,” said Thalapatra.Currently, 96-98% of the industry in the Rs 15,000+ category is 5G ready and 55% of the 10,000-15,000 models are 5G ready.
The company's focus on premium upgrades, Tier-I cities and metros, and a strong 5G portfolio will enable the company to achieve its goal of becoming one of the top five smartphone brands in India by 2024, he added.
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