Huawei leads market with Honor
Print Edition
CHINA’S leading smartphone maker, Huawei Technologies, hit a record high share of the domestic market of 27 percent in the second quarter on booming sales of its sub-brand, Honor.
And the five market leaders — Huawei, Oppo, Vivo, Xiaomi and Apple — increased their combined share of the market to 90 percent from 73 percent a year ago, according to a report released yesterday by research firm Canalys. The rising dominance of the leading pack is increasingly crowding out smaller firms and making it harder for new players.
This is Honor’s year of “explosive growth” in domestic and global markets, said Honor president Zhao Ming.
Oppo was the second-ranked player with 21 percent of the market and Vivo had 20 percent.
More than 70 percent of Honor buyers are under 35 and the brand attracts strong customer loyalty, Zhao said during a press conference yesterday to release new Honor Note 10, which has a high level of artificial intelligence features.
The new model, which features a big-screen, AI-powered photography and a new cooling system used in the MacBook Air, will go on sale Friday. Prices will range between 2,799 yuan and 3,599 yuan (US$417-US$537).
Honor has expanded successfully into the US$500 and above market with its latest models and also continues to erode the market share of competitors such as Xiaomi in the low-cost segment, said Canalys analyst Jia Mo.
Honor accounted for 55 percent of Huawei’s total sales in the quarter, surging in foreign markets including Russia, India and Spain.
Chinese smartphone makers are expected to snare 54 percent of the global market by the end of 2018 on the back of a booming domestic market and overseas expansion, said another research firm TrendForce.
Huawei’s global sales are now the second highest in the world after Samsung.
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