At its recent launch event, the China-based Honor, which became an independent brand splitting from Huawei earlier this year, launched its new devices, including the Honor Magic 3 series flagship smartphones and Honor Tab V7 Pro.
Just after the launch event, in an interview, George Zhao, CEO of Honor, revealed that the offline sales for the company accounted for more than 70 percent of its overall sale. This is quite an interesting development given that Honor mostly positions its devices in the mid-range segment and it was the leading company for online sales in China.
Given that majority of the company’s sales are now through offline stores, George Zhao says that Honor will now be speeding up the work of expanding the brand’s footprints in the offline market.
During its peak, Honor-branded smartphones accounted for about 16.7 percent of the market share in China. However, it fell to about 3 percent in the first quarter of 2021, just as the company split from Huawei.
However, the company has now returned to the top three list of smartphone manufacturers in its home country China, with a market share of 14.6 percent. Not just China, Honor has also resumed business operations in about 50 countries around the world and is now focusing on recovering the lost market share.
Zhao acknowledges that the overseas market share of Honor has dropped to almost zero but the company is now hoping for a V-shaped recovery. The company has launched promising new devices and with more products in the pipeline, there’s a possibility that Honor could bring back the days of glory that it once witnessed, before the United States imposed sanctions on Huawei. We’ll just have to wait and watch.
RELATED:
