Honor Demonstrates Strong Market Performance in 2023, According to IDC Report
After experiencing a rapid recovery in the previous year, Honor demonstrated strong capabilities and steady growth in the 2023 market competition:
According to the latest tracking report released by the International Data Corporation (IDC), Honor ranked first in Android shipments in the Chinese market for both the fourth quarter and the full year of 2023. In addition, in the market segment above 800 USD (5700 RMB), Honor significantly increased its market share with the outstanding performance of its foldable screen product family.
IDC’s report mentioned that after a rapid recovery in the previous year, Honor maintained strong momentum in the face of intense market competition in 2023. With exceptional performance of its foldable screen products in the market segment above 800 USD, Honor gained significant market share. In the mid-to-low-end market, it targeted the characteristics of offline consumer demand and created multiple popular products.
According to the data, the top five domestic smartphone shipments in the fourth quarter of 2023 were: Apple, Honor, Vivo, Huawei, and OPPO. In the full-year 2023 smartphone shipments, the rankings were Apple, Honor, OPPO, Vivo, and Xiaomi, respectively.
According to the IDC report, Honor was able to maintain its position as the second highest total domestic shipment volume in 2023. This is attributed not only to its successful product strategy but also to its steady expansion strategy during the industry’s downturn. It is understood that Honor is the only brand in China to increase its experience stores and overall retail construction in adverse conditions. Currently, Honor has established over 40,000 special counters and over 2,000 experience stores in the Chinese market, with Mall stores accounting for over 50%.
IDC’s latest quarterly tracking report on mobile phones shows that in the fourth quarter of 2023, the smartphone market in China shipped approximately 73.63 million units, a year-on-year increase of 1.2%. This marks the first rebound after 10 consecutive quarters of year-on-year decline. However, it is important to note that despite the overall market finally returning to a growth trend, the market performance is still significantly below expectations.