Honor seems to have more than filled the vacancy left by Huawei!
After parting ways with Huawei, Honor, which continued its journey on its own, has become one of the brightest companies in recent years.
The global smartphone market is witnessing a downward trajectory, with almost every manufacturer reporting declining growth. However, one company stands out as an exception to this trend - Honor. After separating from its parent company Huawei, Honor has progressively expanded its footprint beyond Chinese borders. A recent report from Counterpoint Research highlights Honor's considerable accomplishments.
The report elaborates on Honor's key international markets and the diversity of its product lineup. Here are some notable insights to glean from the analysis.
Counterpoint's research indicates that Honor, alongside HMD Global, were the only significant brands to record growth in non-Chinese markets during the first quarter of 2023. The growth was quite substantial, with Honor quadrupling its figures compared to the corresponding quarter of the previous year.
Honor seems to have more than filled the vacancy left by Huawei!
This impressive growth occurred against a backdrop of declining market shares for other Chinese brands, which saw a double-digit decrease. Honor's primary global markets were Europe, the Middle East & Africa (MEA), and Latin America (LATAM).
In Europe, Honor's growth exceeded five times its previous figures. This remarkable achievement was facilitated by forming strategic partnerships with major retailers and telecommunication operators such as Three, Orange, SFR, and Wind Tre.
Despite having only three smartphone lineups - the premium Magic series, the mid-range Number series, and the budget X series - Honor managed to augment its market presence.
In LATAM, Honor's growth was a staggering eight times its previous figures, making it a top-five brand in countries like Colombia and Peru. It is also gaining significant traction in Panama and Guatemala.
Honor has also made significant strides in the MEA region, with a six-fold growth rate. The Middle East emerged as one of the critical growth regions, with Honor ranking among the top five brands in the UAE, Saudi Arabia, and Iraq.
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