Honor claims growth as smartphone market shrinks
Chinese smartphone makers are poised to continue their growth even as the rest of the world is expected to tussle over upgrades. This is thanks in part to a head start in the insular, but pent-up domestic market — there’s plenty of fervor on the web and in the market for brands like Meizu, OPPO and Xiaomi — and, just as the homefront starts showing signs of decline, the expansion to international markets with a focus on value hardware.
Another such brand, Huawei subsidiary Honor, has announced how much it has grown. Citing figures from research firm IDC, it has noted a 27.1 percent jump in shipments in the first three quarters of the year between 2017 and 2018. Over the same period, the global market contracted by 3.1 percent.
Raw numbers were not released — though Honor president George Zhao did recognize the company’s “100 million fans” — and no reason was given for the exclusion of holiday sales.
The company also announced that it now has the most market share in online smartphone sales when it comes to the middle and premium price tiers.
Last year, Honor set goals to become the fifth-largest global smartphone brand by 2021 and the third-largest by 2023, all apart from its parent company.