HONOR Defies Market Trend with Global Expansion

HONOR Defies Market Trend with Global Expansion

While we’re fresh from the official launch of the Magic5 Pro in the Philippines, HONOR is getting a lot of positive responses globally especially when it comes to sales. In fact, Counterpoint reports that despite all the challenges the world faced in 2022, HONOR was able to defy market trends by being able to foster an aggressive global expansion from 2022 to 2023.

To be specific, the global expansion of HONOR is best noticed in the European, Middle East and Africa, and Latin America regions, where the increase in shipments is over five, six, and eight folds respectively. While it took some time for HONOR to increase shipments ever since going independent in 2020, its strategy towards global expansion paid off with a focus on three model tiers: the Magic series for the flagship segment, numbered series for the mid-range segment, and X series for the entry-level series.

While HONOR’s numbered series like the HONOR 70 remains to be a major driver for its overall market share, both its flagship Magic series and entry-level X series get an improved market share in Q1 of 2023–with the latter credited to the X9a 5G, X8a, and X7a. HONOR aims to improve its stake in the flagship segment with the wider availability of the Magic5 Pro and plans to make the Magic Vs available in more countries as well.

“In key flagship segments, HONOR’s product performance is approaching that of the market leaders, and its flagship products act as heroes that help to build brand momentum that filters down to its mid- and low-end products,” Counterpoint said in its report.

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