Handset brand Tecno talked-up prospects of becoming a leading player across the world’s emerging markets, pledging to increase R&D spend to help develop an ecosystem integrating its hardware and software.
The brand already has a significant presence in Africa and in a number of developing markets elsewhere.
According to analyst company IDC, the device maker’s Chinese parent company Transsion held a 48 per cent share of Africa’s smartphone market across its Tecno, Itel and Infinix business units in Q4 2020.
In a statement announcing its latest celebrity tie-up last week, Tecno noted the brand improved its sales into the Indian market by 200 per cent year-on-year during 2020, with five million units sold.
Across the globe its number of units sold increased 45 per cent compared to 2019, to 25 million. In a bid to increase its growth rate and help it enter new markets, the company plans to hike annual R&D spend, having already increased it by 30 per cent in 2020.
“Tecno has been committed to strengthen R&D investment” it added, including developments in “intelligent applications, intelligent connected devices, and build[ing] an intelligent ecosystem integrating hardware and software”.
Discussing its latest endorsement deal with actor Chris Evans, which follows other high-profile tie-ups including with football club Manchester City, Tecno said it would help intensify a global push allowing it to “break into emerging markets around the world to become a leader in those areas.”Subscribe to our daily newsletter Back