Infinix and TECNO, two smartphone brands under Transsion, saw a combined 29% YoY growth in smartphone shipments in Q2 2023, moving Transsion to the number 2 position among the top 5 smartphone vendors in the Middle East, a Canalys research read.
According to the report, smartphone shipments in the Middle East (excluding Turkey) reached 9.5 million in Q2 2023, representing a 2% YoY growth in the region. Factors such as a record-low unemployment rate, rise in global oil prices, high FDI inflows, and expansions in non-oil sectors, aided the region to improve economically.
Infinix and TECNO’s Budget-Friendly Smartphones Shake Up Middle East Market, Transsion Propels to Top 2
Transsion recorded huge success by employing the same techniques it used in other regions. The company focused on smartphones in the low-to-mid range segments, offering better specifications via Infinix and TECNO at prices below $150 in countries such as Iraq and Saudi Arabia.
As a result, smartphone vendors such as Apple and Samsung saw a huge decline in the high-end segment.
“In Q2 2023, both Apple and Samsung saw a decrease in shipments of premium segment smartphones in the Middle East, a result of caution consumer spending and increased interest in budget alternatives,” Senior Consultant at Canalys, Manish Pravinkumar said.
However, despite a 9% drop in annual growth, Samsung was able to retain its top spot with the help of its A-series models, including the A24 and A14, which all fall in the budget-friendly segment.
Transsion Dominates Iraq and Saudi Arabia’s Smartphone Markets in Q2 2023
Smartphone shipments in Saudi Arabia in Q2 2023 grew by an impressive 19% YoY, thanks to strong macroeconomics, expansions in non-oil sectors, and other factors. Transsion stood at number 2 with a 22% market share and 130% market growth, while Samsung still retained the number 1 spot.
Meanwhile, Iraq saw a 24% growth in smartphone shipments, beating economic challenges and currency fluctuations. Leading with a market share of 39% and growth of 102%, Transsion hijacked the top spot from Samsung, which witnessed a 25% decline in the second quarter.