Honor Team to Steady Indian Market Strategy
George Zhao, CEO of Chinese smartphone maker Honor, said in an interview with local media outlet STCN on July 22 that the company had put a team in India for a period of time before withdrawing it from the country. At present, Honor still has partners in India and has started several businesses with them. The company is looking to adopt a steady methodology to conduct business in the Indian market in the future.
According to Honor India’s Twitter account, the last tweet was posted on March 29, 2021. At the end of 2020 and the beginning of 2021, several of Honor’s products went on sale in India, including Watch ES, Pad 5, Watch GS Pro, 9A, MagicBook 15, and 9X Pro.
After the launch event on the evening of July 21, Zhao was interviewed by many media outlets.
SEE ALSO: Honor Launches New Laptops, Tablets, Headphones and More
According to market research organization Canalys, in the first quarter of 2022, only 75.6 million smartphones were shipped in Chinese mainland, down 18% year-on-year. Among them, Honor reached the topmost position for the first time with shipments totaling 15 million units and a growth rate of 205%.
When asked about the growth of Honor since April, Zhao put it bluntly: “In the first half of this year, Honor has acquired the largest market share in China. However, market share has not been our main focus since last September, because for Honor, acquiring the largest market share in a certain period of time is only one of many items.”
In the face of the challenge of declining market demand this year, Zhao said that Honor has always maintained a cautious attitude and will fulfill its promises to consumers even though facing great pressure.
In addition, according to Yicai, Zhao revealed today that there is no vehicle manufacturing plan for the foreseeable future, but it will look to integrate its product offerings with other automobile brands. Honor will also share its Android application packages and core competence with car companies.