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On January 10, the HONOR MagicOS 8.0 conference and developer conference were held, and Zhao Ming, CEO of HONOR Device Co., Ltd., delivered a speech and talked about the difficulties of HONOR when it was just independent. In 2020, Huawei was forced to sell Honor. When Glory was at its most difficult, it was almost impossible to pay salaries, and now there is a lot of money in the Glory account. Zhao Ming said: "Glory has always been labeled as a rich second generation, and I think this may be the biggest misunderstanding of Glory. The glory after independence, we lacked major generals at that time, and many key capabilities were almost blank.
On January 4th, Honor CEO Zhao Ming released a conversation video with the host Dou Wentao, in which Zhao Ming emphasized that Honor has undergone a new change and is no longer an extension of Huawei, but Huawei's core values have been retained in Honor. Zhao Ming said that in the mall, in the market, and Yu Chengdong will not show mercy to each other's subordinates, although Honor has left Huawei's technical support, it still has the ability to surpass its competitors.
According to a report by Counterpoint, a market research agency, in the third quarter of 2023, China's smartphone sales fell by 3% year-on-year, narrowing the year-on-year decline, of which Honor ranked first with a market share of 18.3%.
- OPPO, Honor, vivo, Apple and Xiaomi occupy the top five mobile phone shipmentsAccording to data from the International Data Corporation (IDC), in terms of shipments, the top five manufacturers in China's smartphone market in terms of shipments in 2021 are: vivo, OPPO, Xiaomi, Apple, and Honor, with mobile phone shipments of about 71 million units, 67.1 million units, 51.1 million units, 50.3 million units, and 38.6 million units, respectively.
In the first quarter of 2022, the top five manufacturers in China's smartphone market in terms of shipments were: OPPO, Honor, vivo, Apple and Xiaomi, with mobile phone shipments of about 13.7 million units, 13.5 million units, 13.3 million units, 12.4 million units and 11 million units respectively.
-- China's mid-to-high-end market continues to expand
Another important feature of China's mobile phone market is that the proportion of sales in the mid-to-high-end market ($250-$399) has increased significantly. According to Counterpoint's latest report, sales in the high-end segment ($250-$399) of China's smartphone market increased by nearly 10 percentage points year-on-year in the first quarter of 2022, accounting for 25.5% of total sales, a significant increase from 16.9% two years ago.
-- The overall price performance of mobile phone products was stable
According to the statistics of the Zhongguancun Electronic Products Trade Chamber of Commerce, from 2020 to 2023, China's smartphone price index will run relatively smoothly as a whole. The index was 65 in December 2020 and then declined slightly, and the price expenditure has remained at the level of 64.7 since 2022, and the overall price performance is relatively stable.
According to data from the TechInsights Wireless Smartphone Strategy (WSS) channel, the global smartphone market will return to low-single-digit growth in 2024. With the relative easing of the global macroeconomic situation, the smartphone industry will grow in size, and this growth will be driven by emerging markets that are not yet saturated. Huawei is expected to achieve strong double-digit growth this year.
In addition, IDC believes that although the price of the upstream supply side has generally corrected since the second half of 2023, in the face of fierce market competition, most manufacturers will not blindly increase prices, but will choose more suitable cost solutions to improve the consumer experience and keep the sales price unchanged. In 2024, the share of the high-end market (priced above $600) in the Chinese mainland smartphone market is expected to increase by 0.5% year-on-year, while the share of the low-end market (priced at $100 to $200) is expected to increase by 1.4%.
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