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(Yicai Global) Dec. 5 -- Shares of Transsion Holdings surged after the Chinese owner of big-in-Africa handset brands Tecno, Itel and Infinix said it will team up with Google on the Android operating system, online advertising, and cloud services.
Transsion's stock price [SHA: 688036] closed 7.5 percent up at CNY81.94 (USD11.80), still almost 50 percent down this year.
The manufacturer penned a global strategic partnership with Google to accelerate the creation of leading smartphone devices and mobile internet services for emerging markets around the world, the Shenzhen-based firm said in a statement on its WeChat account today.
Transsion will introduce Google Cloud’s advanced infrastructure, Big Data, artificial intelligence, machine learning, and Media CDN technologies to improve its user experience and build its own developer cloud platform. Media CDN, a platform for delivering content, helps developers in Africa to maximize operational efficiency at the lowest cost, the Chinese firm added.
Moreover, Transsion will also use the California-headquartered tech giant's advertising tools to help transform its digital platform business, improve its advertising monetization, and use Google Cloud to enhance its operational capabilities.
In 2021, Transsion had a 12.4 percent global market share in mobile phones, ranking third, according to IDC. It was the champion in smartphone shipments in Africa and Pakistan. Besides handset brands, the firm sells Oraimo device accessories, Syinix home appliances, and runs the Carlcare after-sales service.
Editor: Emmi Laine, Xiao Yi