[News] Oppo and Transsion Expand to Southeast Asia, with a Focus on Foldable Phones

2023-11-03 Consumer Electronics editor

According to IJIWEI’s report, as the return of Huawei intensifies competition in the Chinese market, Chinese smartphone manufacturers such as OPPO and Transsion are venturing into the Southeast Asian market, a move that is expected to pave the way for sales recovery in the coming year.

In September this year, OPPO hosted a global launch event in Singapore for two high-end foldable smartphones, the Find N3 and N3 Flip.

Elvis Zhou, Chief Marketing Officer for OPPO’s overseas division, stated that the smartphone industry is expected to make a recovery in 2024 and 2025, with foldable smartphones playing a crucial role. While shipment volumes may not be as high, foldable smartphones have been growing at a rate of over 100% annually, and their average selling prices far exceed those of regular smartphones, creating significant value. This is why OPPO is fully committed to foldable phones.

Andy Shi, President of OPPO’s Asia-Pacific region, emphasized Singapore’s significance as a pivotal hub with substantial economic and political influence in the Southeast Asian region. He pointed out that a large number of high-end smartphone users who frequently travel for work are key influencers in this area.

The decision to launch OPPO products in Singapore is aimed at leveraging this advantage for further market development. Despite existing macroeconomic uncertainties, Andy Shi expresses optimism, anticipating moderate growth in the Asia-Pacific region for the upcoming year.

Furthermore, Tecno, a subsidiary of Transsion Holdings that has been known for its long-term focus on entry-level smartphone models in Africa, has recently introduced its latest foldable smartphone in Singapore, marking its debut in the Southeast Asian market.

According to TrendForce’s data, Transsion, along with its subsidiaries Tecno, Infinix, and itel, has not only outperformed Vivo but also claimed the fifth position in the global market during Q2. The company’s growth trajectory is expected to sustain its momentum in Q3.

Regarding the development of the folding phone market, TrendForce has also stated in a previous press release that shipments are poised to surge dramatically to 18.3 million units, marking a 43% year-on-year increase by 2023. Nevertheless, this only constitutes a modest 1.6% of the total smartphone market for the year. Looking ahead to 2024, the growth is expected to continue, with a 38% increase, resulting in a substantial 25.2 million units and pushing the market share to 2.2%.

(Photo credit: Phantom)