Chinese phone brand Transsion on Monday reported revenue of RMB 13.004 billion ($1.79 billion) for the first quarter, down 25.45% year-on-year, while net profit dropped 69.87% year-on-year to RMB 490 million ($67.6 million). This marks the company’s first sharp decline in net profit since 2023. The company attributed the sharp drop to intensified market competition…
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