Glory to overseas milestone achievements! Breaking into the top five in the Latin American market for the first time: shipments surged 293%

On July 1, a report from market analysis agency Canalys showed that Honor mobile phones ranked among the top five mobile phone brands in Latin America for the first time in the first quarter of 2024, with the market share increasing to 7%, and the year-on-year growth reaching an astonishing 293%. The top four ranked ahead of Honor are Samsung, Motorola, Xiaomi, and Transsion.

1. Honor’s rapid growth is due to many factors:

• As a sub-brand of Huawei, Honor quickly established a foothold in the market with the help of Huawei’s business structure and sales channel network.
• After the brand became independent, Honor continued to develop traditional channels and established cooperative relationships with major operators and retailers to increase market penetration.
• In terms of product strategy, Honor implements differentiated competition in the mid-to-high-end market, launches high-quality products such as the Magic series, and establishes a brand image with excellent equipment specifications and manufacturing quality.

  

  1. At the same time, Honor continues to expand its product ecosystem, introducing diversified products such as smart bracelets and tablets to enhance user stickiness.

2. However, the agency also stated that in the face of market challenges, Honor needs to continue to expand its customer base and enhance loyalty, consolidate its financial foundation, and adapt to market changes. In the high-end market, Honor needs to further improve its flagship products Market awareness and attract more high-income consumers.
3. Canalys predicts that the Latin American smartphone market is expected to achieve 9% growth in 2024. Honor is expected to further develop in the high-end market with its investment in AI features and 5G technology.

   

The above is the detailed content of Glory to overseas milestone achievements! Breaking into the top five in the Latin American market for the first time: shipments surged 293%. For more information, please follow other related articles on the PHP Chinese website!