Stock Groups

Huawei spin-off brand Honor enters top three in China shipment ranking -research -Breaking

[ad_1]

© Reuters. FILEPHOTO: Huawei’s logo can be seen in Munich Auto Show 2021, IAA Mobility 2021, Munich, Germany. September 8, 2021. REUTERS/Wolfgang Rattay

SHANGHAI (Reuters – Honor, a Chinese smartphone brand that was created by Huawei Technologies Co Ltd, experienced record shipments in its latest quarter. It rose to the top of the list, Counterpoint Research said.

This brand is on the rise after Huawei’s sales plummeted due to sanctions by the United States, which stopped it from sourcing chips.

Counterpoint said Honor sold 96% more smartphones in the third quarter ended in September than the previous year to capture a 15% share in China’s smartphone market.

With shares of 23%, 20%, and 23%, it now ranks behind Oppo and Vivo, respectively.

Honor was originally a subbrand of Huawei, which specialized in mid-range and low-end devices. Huawei announced this year that it sold its division to a group of buyers, including Shenzhen’s government.

Since then, the company has increased its advertising and marketing efforts in China. It launched its high-end Magic 3 phone line in August for 7,999 Yuan ($1,250).

The quarter’s overall sales fell by 9%, thanks to weaker demand for ever-longer upgrade cycles.

Xiaomi (OTC) Corp grew shipments 15 percent to reach a market share 14%. This places it at fourth. Apple Inc (NASDAQ) was slightly lower with 13% of the market.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]