Counterpoint Research names TECNO as the fastest growing smartphone brand for the third quarter of 2023.
A new insight into the smartphone arena for the third quarter of this year unveiled the one brand with the most growth. The research showed that it wasn’t any of the top-tier players but a newcomer in the international stage.
Team Counterpoint’s Market Monitor service highlighted TECNO’s impressive success in Q3 2023. Transsion’s largest brand had a stunning 62% of year-over-year volume growth, supporting Transsion’s 36% year-over-year smartphone shipment increase.
“TECNO has been the most visible brand in Transsion’s portfolio. TECNO’s two foldable device launches, at MWC in Barcelona earlier in the year and in Singapore in September, boosted the brand’s global image and showcased its ambitions,” said senior analyst Yang Wang.
In the image below, TECNO had the highest shipment leap of 62% than any other brand in the same quarter compared to the previous quarter. It was followed by Huawei, HONOR, Motorola, and Xiaomi.
Meanwhile, Apple, Samsung, OPPO, and vivo had a downward trend for volume of smartphones, with vivo having the greatest drop of 15%.
TECNO’s year-over-year net profit ballooned by 190% and revenue rose 39% in Q3 2023. The report also showed that the brand had already crossed 12 million smartphone shipments for the first time.
TECNO only has 4% of the world’s smartphone market as of Q3 2023, but that makes it the ninth largest smartphone brand. All thanks to the sales from TECNO CAMON series and PHANTOM series.
TECNO CAMON 20s Pro 5G is the latest release and currently priced at ₱11,599 on Shopee. The TECNO PHANTOM V Flip 5G is the world’s most affordable yet powerful flip smartphone, only priced at ₱29,999 on Shopee.
