Smartphone maker Transsion profit up 173% in 2019

SHENZHEN -- Chinese smartphone maker Transsion Holdings posted net profit of 1.79 billion yuan (about $253 million) in 2019, surging 172.8 percent from a year ago.

Revenue grew 11.9 percent year on year to 25.3 billion yuan last year, the Shenzhen-based company said in its annual report.

Transsion Holdings went public on China's sci-tech innovation board, known as STAR market, in Shanghai in September 2019.

With three mobile phone brands -- TECNO, itel and Infinix, the company is a smart device and mobile internet service provider for consumers in emerging markets and has been among the most popular smartphone brands in Africa.