At the Mobile World Congress 2022, George Zhao, CEO of Honor, said on Wednesday that both regular phones and foldable phones are set to hit the mainstream of smartphones, and that the market for foldable phones will potentially grow tenfold in 2022. This represents a new area of growth in which Honor must invest for its future.
In January, Honor unveiled its first foldable smartphone, the Magic V. The device features a self-developed ultra-thin suspension hinge, and the Magic UI 6.0 smart operating system. The Honor Magic V is backed by three 50-megapixel primary cameras for integrated computing photography, and a 42-megapixel front camera on both outward-facing screens. It also has a built-in independent security storage chip and a dual TEE security system. The 12GB+256GB version and 12GB+512GB version are priced at 9,999 yuan and 10,999 yuan respectively.
In a press interview, Zhao stressed Honor’s core strength was “to create a superior experience that compares to and surpass the Apple iOS”, and he expected 2022 as the year of rapid scaling of the entire market for foldable smartphones.
Sigmaintell’s survey data shows that in 2021, approximately 7.21 million foldable smartphones were shipped worldwide, up 171.9% year-on-year. The foldable smartphone market is heating up steadily as the technology grows more advanced and the price drops. At the same time, terminal manufacturers have also developed various forms of smartphones as upstream devices are more sophisticated.
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Zhao said that despite the shortage of chips in the global market, Honor would continue to invest in the global market and increase investment in products, marketing, and R&D. Many chip suppliers now invest in more projects for enhanced delivery. He predicted a doubling in the volume of global sales for Honor in 2022.