George Zhao, CEO of Chinese smartphone maker Honor, said in an interview on July 22 that the company had put a team in India for a period of time before withdrawing it from the country. Chinese manufacturer raised a subordinate – Honor, and brought it to the light in several regions. But the subsidiary of Huawei – Honor has finally exits India.
CEO also marked the point that the company may adopt a comeback in India to set up a new sphere of products, in the future. But for the moment, the Honor team is withdrawing from the nation. The abolishment process was in consideration for a long time.
Ming also mentioned during the interview that company does not have any plans of building cars in the next few years. But it will look to integrate its product offerings with other automobile brands. Honor will also share its Android application packages and core competence with car companies.
According to market research organization Canalys, in the first quarter of 2022, only 75.6 million smartphones were shipped in Chinese mainland, down 18% year-on-year. Among them, company reached the topmost position for the first time with shipments totaling 15 million units and a growth rate of 205%.
Up to this point, company has brought multiple devices to Indian consumers. Some of the ultimate products are – Watch ES, Tablet 5, Watch GS Pro, 9A, MagicBook 15, 9X Pro, and more. However, these products has been not maintained with care among Indian consumers after sale.
Analysts and industry watchers said that both Huawei and Honor is sitting on a good amount of inventory. Huawei’s trade ban impacted India market as its shipments declined YoY, However, the brand continued to be in the top ten smartphone brands category, as per Counterpoint Research.
In the face of the challenge of declining market demand this year, Zhao said that Honor has always maintained a cautious attitude and will fulfill its promises to consumers even though facing great pressure.
