Recently, Honor, a former subsidiary of Huawei, has been very successful in China. The company ranked first in the Chinese smartphone market with a market share of 17,1% in the first quarter of 2024. This remarkable feat follows a period of transformation and strategic decision-making following the separation from Huawei in 2020. Despite the difficulties and a significant drop in market share to 3% at one point, the revival of Honor demonstrates the resilience of the brand and its ability to adapt to market demands.
Latest company data IDC, which is engaged in market research, testify to the outstanding performance of Honor. It has overtaken competitors such as Huawei, OPPO, Apple and vivo to take first place in the Chinese smartphone market. This achievement not only underscores Honor's market dominance, but also represents a significant shift in the industry landscape, demonstrating the brand's evolution, innovation and global competitiveness.
Inheriting Huawei's legacy
Zhao Ming, CEO of Honor, emphasized the brand's roots in Huawei and the inheritance of Huawei's core strengths, including its culture, values and research and development capabilities. This legacy has played a crucial role in shaping Honor's path to becoming a leading player in the international high-end smartphone market. Leveraging Huawei's strengths, Honor is positioning itself as a strong competitor against industry giants like Apple and Samsung, especially in the Chinese smartphone market.
“The Honor team comes from Huawei, inheriting the best aspects of Huawei, such as culture, values, and research and innovation genes. It is on this foundation that Honor has decided to compete with Apple and Samsung on the world stage and strive to become an international high-end brand. Without hesitation, we set out on the path of innovative breakthroughs."
Strategic choice and innovative breakthroughs
After gaining independence, Honor faced important decisions that determined its future trajectory. The brand had to choose between using existing resources for cost-effectiveness and rapid innovation, or embarking on a path of independent innovation to establish itself as a leader in the Chinese technology landscape. Honor's unwavering commitment to innovation and independent development has been a key factor in its current success.
Thus, Honor's rise to the top of the Chinese smartphone market underscores its strategic vision, commitment to innovation, and the foundation laid by its collaboration with Huawei. Embracing Huawei's legacy and paving its way to independent growth, Honor has reestablished itself and set a new standard of excellence in the fiercely competitive smartphone industry. The brand continues to expand its presence and compete with well-known players.
