12月1日下午，"非洲手机之王"传音控股发布最新投资者关系活动记录表，就市场关注的非洲竞争 态势作出回应。公司表示，自2019年上市以来，其在非洲市场的基本盘保持稳固，智能手机市场份额较 上市当年有所提升，持续位居市场第一。 不过，传音控股也坦言，手机行业竞争激烈，各家策略不断动态调整。非洲市场竞争维度多元，涉 及产品力、价格、渠道、售后服务等多个方面。未来，公司将继续巩固在非洲市场的竞争优势，深化精 细化运营，推进差异化品牌建设，并通过体系化能力持续筑牢"护城河"，以构建面向未来的核心竞争 力。 作为国内出海较早的手机厂商，传音控股成立于2013年，总部位于深圳，主营业务以手机终端销售 为主。其手机业务（含功能机与智能机）收入长期占公司总营收90%以上。 今年10月底，公司披露2025年前三季度业绩：1-9月实现营业收入495.4亿元，同比微降3.3%；归母 净利润则大幅下滑44.97%至21.5亿元；扣非净利润进一步收窄至17.3亿元，同比跌幅达46.71%。值得关 注的是，第三季度单季营收重返增长轨道，录得204.66亿元，同比增长22.6%，但净利润仍延续下滑态 势，同比下降11.06%至9.35亿元 ...

Core Insights - Omdia's latest research indicates that smartphone shipments in Africa will surge by 24% year-on-year in Q3 2025, reaching 22.8 million units, marking a rebound after five consecutive quarters of slowdown, driven by increased market demand, currency stability, enhanced financing usage, and improved retail activities [1] Group 1: Regional Performance - North Africa and Sub-Saharan Africa experienced double-digit growth in smartphone shipments, with Nigeria and Egypt each accounting for 14% of regional shipments; Nigeria's market surged by 29% due to stable naira exchange rates and an updated portfolio of models priced below $150, while Egypt saw a 19% increase [1] - South Africa led with a 31% growth, benefiting from the acceleration of prepaid models in the low and mid-range markets, new model launches, and increased retail promotions [2] - Kenya's market grew by 17%, driven by the rising penetration of installment payment plans, which have become a significant driver of smartphone sales [2] Group 2: Market Dynamics - The shipment of smartphones priced below $100 increased by 57%, the fastest growth rate in three quarters, while models above $500 grew by 52%; the entry-level market's rapid growth was primarily driven by Transsion, which saw a 25% year-on-year increase in shipments supported by strong demand in Algeria, Egypt, Morocco, Nigeria, Kenya, and South Africa [5] - Major brands like Samsung dominated the high-end market with strong demand for Galaxy S24 and S24 FE 5G in South Africa, Senegal, and Algeria, although overall market growth remained moderate at 5% due to consumer preference for cost-effective models [5] Group 3: Competitive Landscape - Xiaomi is accelerating its long-term strategy in Africa, planning to enter over 15 new markets in the coming months and has opened its first self-operated flagship store in Morocco; its strong sales in the sub-$150 segment account for half of its shipments [6] - OPPO is consolidating its market position in North Africa with a focus on Egypt, while Honor is maintaining steady growth in South Africa through high-cost-performance models like Honor 200 Lite [6] Group 4: Future Outlook - Omdia forecasts a 6% decline in the African smartphone market by 2026 due to rising supply-side pressures, including increased BOM costs, tight memory supply, and ongoing currency weakness, which will particularly impact the low-end 4G market that constitutes the majority of demand in Africa [8] - These pressures are expected to raise average selling prices, especially in the $80 to $150 range, presenting new payment challenges for consumers; manufacturers will need to strengthen financing partnerships, optimize channel inventory, and localize more effectively to navigate this environment [8]