China-based Transsion Holdings, formerly known as Tecno Telecom Limited, revealed its plans to establish its first factory in Egypt in the presence of Egyptian communications minister Yasser El-Kady.
With production lines dedicated for smartphones, modern lightning, and home appliances, the new factory is set to fulfil local market needs and a part of its production will be oriented to exporting to the Middle East and African countries.
About 80 percent of the new factory’s products will be directed to domestic consumption while the remaining 20 percent is export-oriented. In a four-year implementation plan, the Chinese company is set to produce 17 million smart devices i.e. mobile phones and tablets in addition to a research and software development centres.
El-Kady commended the Chinese company’s step saying that it would represent as pumping fresh blood into Egypt’s electronics market. The Egyptian minister showcased economic stimulus packages Egypt offers to all investors within the electronics industry.
He asserted that Egyptian government spares no effort to provide a healthy environment for local production referring to bilateral and multilateral economic agreements Egypt enters with several countries like the COMESA.
The government seeks to establish more technology parks with all accompanying regulations as an extra step to attract foreign investments, he added.
Transsion Holdings is one of the world’s fastest-growing major mobile phone manufacturers and a leading supplier of communication devices with presence in more than 40 countries across the globe.
Established in July 2006, the Chinese high-tech company specialises in the R&D, production, sale and service of mobile communication products and currently has ownership of mobile phone brands – Tecno, itel and Infinix and after-sales service brand Carlcare.
With support of its partners – Qualcomm, MediaTek, Facebook, Opera, MTN, Airtel, Etisalat, Safaricom, Gameloft, Ogilvy and BBDO, Transsion brands have enlarged their market share, increased sales volume and enhanced market position and is one of the top communication companies in Africa.
Transsion Holding has offices in Dubai, Nigeria, Kenya, Tanzania, Cameroon and Becesngal and has a factory in Ethiopia, apart from factories in China. Ethiopia factory deploys around 1,000 people and exports mobile phones to Nigeria, Angola and Tanzania. In China, the company manufactures 300,000 mobiles phones per day. It focuses on mobile phone, tablet, lightning, home appliances, and accessories.