Transcen Group’s leading smartphone brand TECNO aims to be among the top five smartphone brands in the Indian smartphone market by 2024, a top company official said.
The company is betting on premiumization and focusing on metros to achieve its ambitious target, he said.
“The Indian smartphone market is maturing, and consumers are demanding more premium features and experiences. We plan to launch 24 new models in 2024, 50 percent of which will be 5G-enabled.” said Arijit Talapatra, CEO, Techno Mobile India.
The brand is traditionally strong in tier II and below cities for its affordable and feature-rich smartphones.
TECNO, which is ranked sixth in the Indian smartphone market, has seen a significant shift towards premiumization in recent times.
The average selling price of the company has increased from Rs. Rs 11,000-12,000 in January 2023. Rs 18,000-19,000 in December 2023. It is targeting a big rise in the rupee. The Rs 15,000-plus segment, he said, plans to sell 1.5 million handsets in 2024 compared to 7.5 lakh in 2023.
“We are well positioned to capitalize on this trend with our strong focus on innovation and design. Tecno’s foldable range will add further strength to the Phantom sub-brand,” he said at the launch of mass segment phone Spark Go. (2024).
The company’s premium smartphone portfolio includes the Phantom series, which features foldable smartphones. “5G is the future of smartphones and we are committed to bringing it to a wider range of consumers,” Talapatra said.
Currently 96-98 percent of the industry makes Rs. Over 15,000 ranges are 5G-enabled and 55 percent of its 10k-15k models are 5G-enabled.
He said the company’s premiumisation, focus on Tier I cities and metros, coupled with its strong 5G portfolio is expected to propel it towards its goal of becoming a top five smartphone brand in India by 2024.