HONOR Malaysia Aims for 20% Market Share by end 2024 with Mid-to-Premium Releases

HONOR Malaysia Aims for 20% Market Share by end 2024 with Mid-to-Premium Releases

Since gaining independence in 2020, global technology brand HONOR has experienced remarkable growth in China. In a breakthrough in 2023, the company engaged in direct competition with Samsung and posed a strong challenge to the dominant Apple. HONOR has successfully evolved into a significant player in the premium market, strengthening its position.

In 2023, HONOR claimed top position in China’s Android market. This success is attributed to the brand’s improvement in channel partnerships and a comprehensive product strategy. HONOR penetrated the high-end market with a successful foldable line up and captured the low-to-mid range with a range of popular models, according to IDC.

In Malaysia, HONOR has experienced rapid growth, and by 2023, the HONOR Magic Series had secured a position among the top 3 in the premium smartphone market for above RM4,000 price range. Furthermore, in December last year, the company dominated over 50% market share in the RM1,000 to RM2,500 price range for the mid-range, with the HONOR 90 Lite and HONOR X9b among top selling smartphones.

In a strategic effort to further strengthen its presence in Malaysia, HONOR has set a target of reaching a 20% market share by the end of 2024. The company aims to achieve higher through the introduction of new models in the mid-to-premium range, incorporating innovative technologies.

Deputy Country Director of HONOR Malaysia, Matthew Ng said, HONOR’s success is attributed to the company’s core value of customer-centricity. “Instead of focusing solely on big numbers, HONOR prioritizes providing value to consumers, enhancing their lifestyles, and ensuring a positive user experience,” he said. Matthew emphasizes the importance of delivering products that consumers find valuable, backed by HONOR’s dedicated efforts to offer quality choices with cutting-edge features.

HONOR’s research and development (R&D) played a crucial role in advancing technology, especially in foldable phones. With 60% of its 13,000 global employees are R&D experts, HONOR ensures that its devices, like the latest HONOR Magic V2, stand out as the thinnest and lightest in the world. This shows the brand’s unwavering commitment to technological innovation.

“HONOR’s previous foldable models were thicker. However, after thorough research and understanding what consumers prefer, the outcome of the HONOR Magic V2 is the lightest and thinnest foldable in the world at the moment,” Matthew explained.

He further emphasized that Malaysians prefer smartphones with larger features, such as big screens and large batteries. This preference has contributed to the successful sales of the HONOR Magic V2 model, as consumers tend to gravitate towards devices that offer a larger and more realistic experience.

On 25 February, HONOR launched the HONOR Magic6 Pro and Porsche Design HONOR Magic V2 RSR globally at the Mobile World Congress (MWC) 2024 in Barcelona, Spain. Following this, HONOR Malaysia is gearing up to soon launch the HONOR Magic6 Pro in the local market.

For more information, please visit HONOR website at https://www.hihonor.com/my/