Transsion Holdings, a global conglomerate with a strong presence through itel and TECNO, announced a joint venture (JV) agreement with Spice Mobility, an Indian Business major across mobility space, to strengthen its foothold in the world’s fastest growing mobile market. The JV was inked today in the presence of Mr. Lin Qin, Vice-President, Transsion Holdings and Mr. Dilip Modi, Executive Chairman, Spice Mobility.
In line with Transsion’s multi-brand strategy, the company marks the entry of its new brand in India, reinforcing its commitment to the India market, with an enhanced portfolio. This partnership aims to revitalize the ‘Spice brand’ by cross leveraging both organisations’ strengths to offer a simple, yet, an all-new powerful and rich digital experience to the young generation of India, which is a reflection of their individuality and keeps the collectivistic sentiment intact. The new Spice brand portfolio will offer stylishly designed devices catering to the needs of the Indian youth.
Mr. Lin Qin, Vice-President, Transsion Holdings said, “We are excited to announce our partnership with the Spice Group and it is a matter of great pride for us to actively contribute to the growing mobile phone ecosystem in the country. With Transsion’s success in India over the past year, this JV is a win-win situation for both the groups. We will be exploring various strategic opportunities by building on each other’s strengths such as wide distribution strength, understanding of the Indian consumer and a comprehensive portfolio of quality products. Our aim is to translate the company’s global success by designing easy to use products that cater to the local consumer preferences and social milieu.”
He further adds, “For us, India is one of the top priority markets and with this partnership, we have now enhanced the New Spice product portfolio to offer a stylish designed range to the Indian consumers. After massive acceptance of the brand, itel and successful launch of TECNO in India, we are embarking on a new journey with the launch of the new ‘Spice’ brand. We are confident that this brand will deliver on its promise of a youthful portfolio of high quality products that will not only surpass consumer aspirations but also enable them to retain their individuality without compromising on their traditional values and societal expectations.”
Mr. Dilip Modi, Executive Chairman, Spice Mobility said, “We are absolutely delighted to partner with Transsion Holdings. As a strategic partner, we believe this combines Spice’s legacy strength and Transsion’s global leadership to bring a whole new mobility experience to our consumers. This JV is a commitment towards furthering digital inclusion in India, assuring high-quality products and services to one and all, thus democratizing innovation and technology. We are sure that by leveraging each other’s strengths, we will make a significant contribution to the emerging Indian technology market.”
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