Counterpoint: Honor saw huge growth in smartphone sales in Q1 2023
While global smartphone shipments continue to contract, Honor saw impressive growth numbers in several key markets including Europe, the Middle East and Africa and Latin America. Based on data from Counterpoint Research, Honorâs aggressive expansions in Europe saw a 400% yearly growth in shipments which is practically unheard of for other brands in the region currently.
We should mention that Honor only separated from Huawei back in November of 2020 and made its return as an independent brand in Europe in October of 2021. Honor also quickly established partnerships with some of Europeâs largest mobile operators including Vodafone, Orange and Wind Tre.
Honorâs midrange Honor 50 and Honor 70 series served as key growth drivers throughout 2022 and this year. In addition, the budget Honor X-series has also made a name for itself across Italy and Eastern Europe. The flagship Magic series saw good demand across Western European markets.
Honor also experienced tremendous growth in the Middle East and Africa region with a 500% yearly growth in shipments. Honor is now a top-five brand in terms of shipments across the UAE, Saudi Arabia and Iraq.
Latin America was the strongest region for Honor in terms of shipments in Q1 with a 700% increase compared to last yearâs values. Honorâs shipments more than tripled compared to Q4 2022 and the company saw gowth across all key markets in the region including entering the top-five in Colombia and Peru alongside ample shipments in Panama and Guatemala.
Looking ahead, Counterpoint Research analysts believe Honor is poised to grow its position in more key markets across the aforementioned regions as well as gaining momentum and increased distribution across retail and mobile operator channels. Upcoming growth figures will likely dip compared to the current values but Honor is expected to maintain a steady increase in shipments across its key markets.