In the first quarter of 2023, Honor was the only Chinese brand to witness increased market share outside mainland China. Almost a year later, the brand has now revealed how much growth it saw throughout the year.

At the same time, the company also disclosed its growth forecast for 2024. It has even set an ambitious target for the coming years.

Honor Magic 6 Pro
Honor Magic 6 Pro

Followed by new product announcements at MWC 2024, Honor held a discussion with the media to which GizmoChina was invited. During this interaction, the company’s CEO George Zhao revealed some interesting tidbits.

He disclosed that Honor’s smartphone sales grew more than 200% in the EU in 2023. The brand predicts 100% growth in 2024.

The executive said that the company will utilize AI technology to drive growth. He claims that the intent-based UI found in MagicOS 8.0 is the future.

Further, Honor’s partnership with Meta and Google will bring on-device AI models. The brand’s latest Magic 6 Pro premium slab smartphone already has a working demo of Meta’s Llama 2 LLM (Large Language Model).

Most importantly, Honor aims to increase its global phone sales to over 50% of its total sales in the next 3 years. Currently, this figure sits at 20%.

Mr. Zhao did not reveal how the company plans to achieve this. We believe the brand may double down on its presence in key markets like LATAM (Latin America) and MEA (Middle East and Africa) with affordable X series handsets and mid-range number series phones.

Finally, Honor also wants to compete with Apple and Samsung in the premium segment. This is no surprise as the company is acting as a replacement for its former parent Huawei in global markets. We can clearly notice this in its innovation-driven premium Magic series handsets with their lavish pricing.

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