这两天小米公司为雷军演讲制作的一张海报让笔者大为震惊，一个身价百亿美金的富豪，居然在那里哭 穷要供"两个孩子上大学"。相比之下，雷总多年前在媒体专访时那句"我变得一无所有，除了钱"显然更 加诚实一些。 这句话不仅是雷总亲口讲出，更是行业对小米公司的第一印象。然而现在，这句话已经成了禁忌。有某 小米高官还因为说了这句话而主动离职。 "不服跑个分？" 安兔兔跑分软件，被曝是小米投资的，且经常为了小米手机新品而做改动。网友戏称："既当运动员又 当裁判员"。 "比一元硬币还薄" 指的是比一元硬币立起来的"高度"还薄 "奥氏体304" 其实作为活在热搜里的男人，雷总从做手机开始就一直以"语言百变"而享誉业界。笔者依稀还记得很多 雷总语录背后的精彩故事。 "得屌丝者得天下" "硬件净利润率不超5%" 2018年上市前的豪言，在2021年手机毛利率达11.6%的财报前略显尴尬。米粉调侃："雷总，您说的硬件 不包括充电宝对吧？" "造车？都是媒体瞎编的！" 雷总在一场发布会上信誓旦旦的讲"奥氏体304"这种材料有多牛逼。其实就是最普通的用来做锅碗瓢盆 的不锈钢。 在某次发布会上亲口说出这句话之后没几天，就官宣要造车了。 "汽 ...

Core Insights - In 2023, Transsion Holdings achieved over 30% growth, entering the top five global smartphone shipments, despite a general decline among domestic manufacturers [2] - However, in 2024 and Q1 2025, the company failed to maintain high growth, with a slight net profit increase of only 0.22% in 2024 and a rare decline of nearly 70% in Q1 2025 [2] - The company's previous success was largely due to its dominance in the African market, but increasing competition from other Chinese brands like Xiaomi and realme is impacting its market share [2] Financial Performance - In 2024, Transsion Holdings reported revenue of 68.7 billion yuan, a year-on-year increase of 10.3%, with a net profit of 5.549 billion yuan, reflecting a slight increase of 0.22% [4] - The gross margin in the African region decreased by 1.46 percentage points to 28.59%, while the gross margin for "Asia and other regions" was 17.66%, down 2.52 percentage points [5][3] - The mobile phone revenue accounted for over 90% of the total revenue, with a gross margin of 20.62%, down 2.63 percentage points from the previous year [4] Market Dynamics - Transsion's market share in the Middle East and Africa declined, with its share in the region dropping to 34% in Q4 2024, down from 36% the previous year [7] - The competitive landscape is intensifying, with Xiaomi being the largest market share gainer in the Middle East and Africa in 2024, showing a 15% increase in shipments [7] - Other brands like realme and OPPO are also increasing their focus on the African market, with strategies aimed at local engagement and production [8] Strategic Challenges - Transsion faces challenges in maintaining its market position as competitors replicate its strategies and target similar price segments [8] - The company must navigate the transition from low-end to higher-end markets, which poses a significant challenge for future growth [8] - The lack of product updates for its brands Infinix and itel has contributed to their struggles against TECNO, which remains strong in the mid-range market [7]