We all are aware of the Huawei incident and also the separation of Honor from it. As an effect, it lost its market share and came down to 5.1% in January this year. But now, it manages to reach an 8.4% market share of the Chinese smartphone market in June. The recent report shows the same.
When Xiaomi, Oppo, Vivo, and other smartphone makers were busy capturing Huawei’s place, Honor joins them and slowly re-capturing the market.
As per Counterpoint Research’s monthly Market Pulse data, there is a high possibility of position rearrangement in the $300-$600 and above segment during the second half of 2021. All these are due to the high competition.
Archie Zhang, the Research Associate at Counterpoint, says, “The June 2021 sales were only a bit more than half of this peak number. But the current growth momentum appears quite strong as the company’s sales were up 39 per cent (month-on-month) in May and 27 per cent MoM in June,”
Earlier statistics show Honor is maintaining continuous growth in the Chinese market share. The continuous growth got a boost for the performance of the Honor 50 series smartphones.
“It also reconfirmed the market’s recognition of Honor’s brand and its R&D capabilities. The company says it recorded 500-million yuan sales at online platforms for Honor 50 in the first minute after its launch on June 25,” – Zhang
The report reads, “Thanks to the low shipments of Huawei’s P and Mate series, opportunities in the premium segment are still out there for OEMs including OPPO, vivo, Xiaomi and Honor,”