Tecno Aims for Top Five Spot in India’s Smartphone Market with 24 New Launches Next Year

Highlights

• Tecno plans 24 new smartphone launches in 2024 to break into India’s top five OEMs.
• Half of Tecno’s 2024 lineup to be 5G-enabled, meeting India’s growing demand.
• Average selling price increase with a target to sell 1.5 million devices in 2024.
• Tecno ventures into the foldable smartphone market with the PHANTOM V Fold.

Tecno is looking to make it big next year in the Indian market.

The Chinese electronic maker has made its ambitions clear:break into the top five OEMs of the country with the launch 24 new smartphones in 2024.

Tecno is looking to expand its presence beyond tier II cities, where it already enjoys a strong foothold, to more urban and metro areas with a range of premium products.

Tecno’s Focus on 5G

Tecno Mobile India CEO Arijeet Talapatra, says, in an interview with ETTelecom, that the company is gearing up to make nearly half of its 2024 smartphone lineup 5G-enabled.

This decision aligns with the growing demand for 5G capabilities in India.

Tecno aims to meet the needs of consumers who are increasingly looking for feature-rich devices, irrespective of price.

Sales Targets

The company has seen a significant increase in its average selling price, jumping from Rs 11,000-12,000 in January 2023 to Rs 18,000-19,000 by December 2023.

Tecno’s goal for 2024 includes boosting sales in the Rs 15,000+ segment, to sell 1.5 million devices, a substantial increase from 7.5 lakh in 2023.

Tecno’s Innovative Edge

As noted by Counterpoint Research Tecno’s strategic positioning has seen the company harness an impressive growth in Q3 2023.

Tecno’s also ventured into the foldable smartphone market, particularly with the PHANTOM V Fold that has kind of solidified the brand’s positioning in the premium segment as well.

Time will tell if Tecno’s strategy allows it to catapult to new heights in the Indian consumer market which is already facing a lot of cutthroat competition.

However, one thing is for sure, Tecno is certainly going in the right direction.

FAQs

What is Tecno’s strategy for expanding its market presence in India?

Tecno aims to penetrate urban and metro markets in India with 24 new smartphone launches in 2024, focusing on premium products and expanding beyond tier II cities.

How is Tecno aligning with the 5G trend in India?

According to CEO Arijeet Talapatra, as reported by ETTelecom, nearly half of Tecno’s 2024 smartphone lineup will be 5G-enabled to cater to the increasing demand for 5G technology in India.

What are Tecno’s sales targets for the Indian market in 2024?

Tecno plans to boost its presence in the Rs 15,000+ segment, targeting to sell 1.5 million devices in 2024, a notable increase from 7.5 lakh devices sold in 2023.

What innovative steps has Tecno taken in the smartphone market?

Tecno has expanded into the foldable smartphone market with its PHANTOM V Fold, marking its entry into the premium segment and showcasing its commitment to innovation.

How is Tecno addressing sustainability?

Tecno is actively utilizing recycled plastics and ensuring compliance with e-waste management guidelines. Products like the Phantom X2 Pro and Phantom V Fold showcase this commitment.

What is Tecno’s approach to foldable phones?

Tecno’s launch of foldable phones reflects consumer demand and market trends. Crafting the hinge and using the “Made in India” approach have enabled a competitive price.

What does Tecno’s Megabook signify?

The Megabook launch marks Tecno’s entry into the laptop market, highlighting the company’s drive for innovation and commitment to diverse consumer needs.

What is the Tecno thinking behind entering the budget gaming market?

A Tecno’s strategic move into the gaming segment with the POVA series is a testament to the brand’s adaptability and vision.

Recognising the burgeoning gaming community and the vast market potential, Tecno designed the POVA line as a performance-first offering.

These devices are packed with robust batteries, ample RAM and ROM, and distinctive aesthetics, all tailored to meet the unique demands of gamers and tech enthusiasts.
Positioning itself as both a performance and category leader, Tecno is carving a niche in an increasingly competitive landscape.

The brand’s focus on innovation and understanding of the rapidly growing gaming market positions it well to cater to the unique needs of its target audience.

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