Tecno to acquire Nigerian phone vendor, Micro-Station

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...

Shop now, pay later with www.zerofinance.com.ng

Zerofinance is Nigeria’s leading online retail store, providing quality branded home electronics, domestic appliances, computers, mobile phones and household...
Tecno to acquire Nigerian phone vendor, Micro-StationTecno to acquire Nigerian phone vendor, Micro-Station
  • Tecno maker, Transsion to acquire Nigerian phone vendor Micro-Station for $5 million in retail push – Sources
  • Transsion’s acquisition of Micro-Station is aimed to strengthen and expand its own mobile phone retail arm, 3C Hub, to enable it draw-in even more consumers.
  • Industry observers say that Transsion’s 3C Hub is being positioned and strengthened to rival Slot.

The producers of the ubiquitous Tecno phone, Transsion Holdings will pay about $5 million to acquire Micro-Station, the Computer Village, Ikeja-based mobile phone retail chain store, sources say.

This acquisition marks another major turn in Nigeria’s mobile phone industry both for Transsion, the China-based phone maker, and local phone distributors. Transsion has progressively been breaking into the mobile phone retail space after becoming the dominant manufacturer and supplier in the Sub Saharan region.

Transsion’s acquisition of Micro-Station is aimed to strengthen and to expand its own mobile phone retail arm, 3C Hub, to enable it draw-in even more consumers. Micro-Station will increase 3C Hub’s geographical footprint, thereby boosting its visibility as a store-front retail brand.

Read:  Traders Shut down Computer Village in Protest against The Installation of Iyaloja

According to sources, its stores may sell both its own brands and that of other manufacturers to attract customers, including those that do not use its products. It will, however, aim to convert non-users to users. The overall goal is to improve the sales of its own brands.

- Advertisement -

Emails and calls for comments sent to both Transsion and Micro-Station executives were not responded to as at the time of publication.

It is believed that Transsion has been looking to flesh out its retail operation for a while now. Market observers say that the Chinese firm had tried to acquire Slot systems in the past but failed.

Read:  Jumia records 14.4m visits on Black Friday Sales

Slot’s deep retail roots and its highly recognizable and trusted brand made it the ideal acquisition target for Transsion. With its failed bid, Transsion is moving to the next option – Micro-station. Micro-station, although not as sprawling and ubiquitous as Slot, is also an established brand and one of the biggest players in Computer Village.

Read:  DAILY INSIGHT: WHAT IS DRIVING NIGERIA’S FAST-GROWING DIGITAL ECONOMY?

After the acquisition, it is believed that Micro-station will be merged with Transsion’s 3C Hub to make 3C Hub an even bigger retail operation. All Micro-station stores will likely be converted to 3C Hub stores, and its retail operation will also be taken over. 3C Hub was established in 2015 and has grown both organically and through acquisitions of smaller players. From 1 store in Otigba, Computer Village it now has branches spread across 12 states in Nigeria.

- Advertisement -

Industry observers say that Transsion’s 3C Hub is being positioned and strengthened to rival Slot. Both stores will likely now slug it out with each other in the retail arena, in which 3C Hub is already making serious advances. It is fast becoming a favorite destination for mobile phone shoppers, who are being won over by its frequent promos and relatively lower prices.

 

 

SOURCE: NAIRAMETRICS

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Photo News: Akeredolu Visits Akure Explosion Scene

The Ondo State Governor, Oluwarotimi Akeredolu, SAN visited the Akure explosion site for an on-the-spot assessment of the devastating effects...

Nigerian Ports Authority, Other shareholders donate Agura Hotel as Isolation Centre

The Nigerian Ports Authority as majority shareholders alongside other shareholders of the Agura Hotels, Abuja, has agreed to donate the 130-bed fully furnished hotel...

LASUTH hosts Sensitization and Awareness Symposium on COVID-19

The Medical Guild in Conjunction with Nigeria Centre for Disease Control (NCDC) and World Health Organization (WHO) recently held a sensitization and awareness workshop...

March 2020 Non-Manufacturing PMI Sinks Below 50 Points as COVID-19 Hits Nigeria

In line with our expectation, the Purchasing Managers’ Index (PMI) survey report by Central Bank of Nigeria (CBN), showed slower growth in manufacturing businesses...
- Advertisement -
BrandsPur Weekly Cartoons
%d bloggers like this: