The spin-off Honor has taken the place of Huawei

The spin-off Honor has taken the place of Huawei

[ad_1]

Honor has never sold as many smartphones as in recent months. The brand even allows itself to take first place in China, according to a study published earlier this month. Honor is even preparing a public offering to raise funds and thus accelerate its international growth.

The spin-off Honor has taken the place of Huawei
Honor Magic 4 Pro

As you may know, if you read Frandroid, Honor has changed a lot in recent months. Since its acquisition by a consortium of about thirty companies, Honor is no longer under Huawei control. In other words: Honor is no longer subject to the US embargo, it can install Google services on its devices and claims to be independent of Huawei.

However, it is clear that its products are similar to those of Huawei. The Honor 50 is similar to the Huawei Nova 9 introduced in France shortly before. The Honor 50 Lite adopts the aesthetics of the Huawei Nova 8i. Honor Earbuds 2 Lite and Huawei Freebuds 4i headphones. Finally, the Honor MagicBook 14 is very freely inspired by the recent Huawei MateBook 14S.

We had challenged the Honor brand on this issue, they explained to us that ” obviously there are designs that were designed at the same time In other words, if recent Honor and Huawei products are still similar to when the former was a subsidiary of the latter, it is because the relevant devices began to be developed before the acquisition.

In any case, his strategyspin off seems to work as recent studies show. Honor has never sold as many smartphones as in recent months.

Honor replaces Huawei in China

Indeed, a study for the first quarter of 2022 by Canalys showed that Honor was the number one brand in China, with 15 million smartphone sales, representing a 20% market share. This represents an annual increase of 205%, while Honor accounted for only 5% of the market in the first quarter of 2021.

The spin-off Honor has taken the place of Huawei

The rest of the ranking is interesting: Oppo (18%) and Apple (18%) complete the podium in China. Oppo recorded a 34% drop in sales compared to the previous year, while Apple recorded an annual growth of 17%. Vivo (16%) and Xiaomi (14%) complete the top 5, these brands recorded an annual decline of 44% and 22% respectively. In other words, Honor and Apple are the only brands in China with annual growth.

The spin-off Honor has taken the place of Huawei

The Counterpoint Market Pulse ranking for March 2022 shows a similar trend, but Vivo and Oppo remain ahead of Honor. However, Honor sees its market share increase from 5.5 to 16.9% and is jumping there as well, from 166.8%.

Honor is looking for funds to accelerate its growth

The former arm of Huawei Technologies Co. is in discussions with investors for a pre-financing round. IPOaccording to published information Bloomberg . It wants to attract foreign funding to restore its international corporate image and continue to grow its independence from Huawei. Finally, it is also a means of avoiding the risk of sanctions associated with China. However, foreign investors will be surprised by Honor’s valuation of more than $ 45 billion, and will remain wary of future US restrictions.

In any case, Honor Device Co. prepares aInitial Public Offering(IPO), or initial public offering in French. This money will be used for its international development. Which means we will see even more Honor products in the coming months.

Huawei is showing a drop in its turnover

At the same time, Huawei’s revenue continued to decline. The Chinese technology group heterogeneous continues to struggle with US sanctions. The Chinese group’s first-quarter revenue was 131 billion yuan ($ 19.81 billion), down 13.9 percent from last year.

To revitalize its consumer business affected by sanctions, Huawei is focusing on diversifying its offering, we have seen the MateBook E, the MateStation X, the new MateBook X Pro or the MatePad Paper, they also have recently unveiled a folding smartphone, the Mate Xs 2. In the smartphone market, Huawei’s global market share fell to 3% in 2021 from 15% in 2020, according to data released by Omdia.

Here is the Huawei Mate Xs 2 🤩

It has a large 7.8-inch OLED screen and a 6.5-inch folding screen, 120 Hz, 4600 mAh battery and weighs 255 grams.

What do you think ? 🤔

© Weibo pic.twitter.com/2czi185QMh

– Frandroid (@Frandroid) April 28, 2022


To follow us, we invite you to download our application for Android and iOS. You can read our articles, archives and watch our latest videos on YouTube.



[ad_2]

Source link

Leave a Comment

Your email address will not be published.