TechInsights: Honor smartphone global shipments fell 11% year-on-year in Q1 2023

According to TechInsights' official WeChat account, research data shows that Honor's global smartphone shipments fell 11% year-on-year in Q1 2023, mainly due to its unsatisfactory performance in China. Due to the small number of high-end models, Honor's average selling price fell 2% year-on-year. As a result, Honor's wholesale revenue fell 13% year-on-year, and its operating profit margin became lower.

However, Honor's shipments grew significantly in Latin America, Africa and the Middle East, and Western Europe, bringing its overseas shipments and share to the highest point since the brand resumed overseas activities . Driven by strong growth in overseas shipments, Honor still outperformed the overall industry (shipments fell -14% year-on-year), and its global market share rose to 4.7% this quarter.

At MWC 2023, Honor launched the Magic 5 Pro, Magic 5 Lite and Magic Vs foldable screen international version. TechInsights said that although Honor lowered the retail price of the Magic 4 series after the release of Magic 5, it is still recommended that Honor launch more of the latest mid-to-high-end devices, such as the digital series, to the global market to fill the 500 euro (note: currently about 3795 yuan) - 1000 euro (currently about 7590 yuan) market segment. "In existing markets such as the UK, Honor is advised to strengthen offline channels, not only to cooperate with online platforms and operators, but also to cooperate with local retailers to allow Honor's products to reach a wider range of consumers."

From IT Home