What’s new: Chinese smartphone maker Honor aims to take on Apple Inc. and Samsung in the premium phone market in Europe, Chief Executive Officer Zhao Ming told Caixin during the Mobile World Congress (MWC) in Barcelona, Spain.
Honor, which was spun off from Huawei Technologies Co. Ltd., is gearing up an expansion in the European market this year and expects sales there to double annually over the next few years, Zhao said.
Honor plans to partner with European telecom operators to target the high-end market in the continent, which is currently dominated by Apple and Samsung, according to Zhao. Apple accounts for nearly 80% of Europe’s premium smartphone market, Zhao said.
During this week’s MWC, Honor debuted its flagship model Magic5 with a price tag of 899 euros ($953) and the Magic5 Pro at 1,199 euros. Honor also launched the Magic Vs foldable phone globally at the MWC trade show. The Magic Vs, first launched in China in November, will be offered at a price of 1,599 euro.
Background: Huawei established Honor as a low-end sub-brand in 2013 and sold it in 2020 to a Chinese government-backed consortium in exchange for an opportunity to keep the brand’s industry chain intact amid mounting U.S. sanctions.
Honor has since rebuilt its presence and in 2022 became the second-largest smartphone maker in the Chinese market by shipments, behind Vivo. Honor accounted for 18.1% of total smartphone shipments in China last year, beating Apple’s 16.8%, according to data from IDC.
Honor kicked off its global market foray during last year’s MWC with the launch of the Magic4 series, focusing on markets including France, Finland, the Czech Republic, Saudi Arabia, Malaysia and Mexico.
The company’s presence in Western Europe is still marginal, ranking 13th with a 0.4% market share, IDC data showed.
Contact reporter Han Wei (weihan@caixin.com) and editor Bob Simison (bob.simison@caixin.com)
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