Tecno, a prominent smartphone brand under the Transsion Group, aims to climb the ranks and secure a coveted spot among the top five smartphone brands in India by 2024. The company’s CEO, Arijeet Talapatra, disclosed a strategic approach focused on premiumisation and intensified efforts targeting metro cities to realise this ambitious objective.
Recognizing the evolving consumer demands in India’s maturing smartphone market, Tecno is set to launch 24 new smartphone models in 2024, with half of them equipped with 5G technology. Talapatra emphasised Tecno’s commitment to cater to the increasing preference for premium features and experiences among consumers.
Traditionally known for its feature-rich yet affordable smartphones, Tecno has thrived in tier II and lower cities. Presently holding the sixth position in the Indian smartphone market, the brand has witnessed a noticeable shift towards premiumisation recently. The company’s average selling price surged significantly from Rs. 11,000-12,000 in January 2023 to Rs. 18,000-19,000 by December 2023.
Tecno has set its sights on substantial growth in the Rs. 15,000 plus segment, aiming to sell 1.5 million handsets in 2024, a remarkable increase from the 7.5 lakh handsets sold in the previous year. Talapatra highlighted the company’s innovation-driven approach and the upcoming foldable smartphone range under the Phantom sub-brand, poised to fortify its premium smartphone portfolio.
Underlining the significance of 5G technology, Talapatra also asserted Tecno’s commitment to ensuring wider consumer accessibility to this futuristic technology. Currently, a vast majority (around 96-98 percent) of smartphones in the Rs. 15,000 plus category across the industry are 5G-enabled, with Tecno ensuring that 55 percent of its models within the 10k-15k range boast 5G capabilities.
