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Honor launches Honor 70 in Europe, pledges first overseas foldable phone


Honor CEO George Zhao launched the company’s Honor 70 smartphone in Europe during a virtual presentation at the IFA trade show in Berlin, Germany. Honor, which is spun off from Chinese tech giant Huawei in 2020, is trying to increase its market share outside of China.

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Honor, the smart device company spun off from Chinese tech giant Huawei, plans to launch a foldable phone in overseas markets as it looks to be a challenge. Apple and Samsung globally.

On Friday, the company launched the mid-range Honor 70 smartphone in Europe and said an unannounced foldable phone will come to the region and other international markets in the future. . The company says it will be Honor’s first time launching a foldable device abroad.

Honor faces an uphill battle outside of China, where it holds less than 1% of the smartphone market.

The brand was sold by Huawei to a consortium of Chinese buyers in late 2020 as a way to bypass US sanctions. In 2019 and 2020, Huawei was affected by some US sanctions, cutting access to Google software and important chips, destroy its smartphone business.

Since then, Honor has launched several smartphones. This year, it brought its flagship Magic 4 phone to the international market.

Along with the upcoming foldable phone, Honor is focusing on the more expensive premium segment of the smartphone market outside of China.

That will put Honor in competition with Samsung’s latest foldable devices – Galaxy Z Flip 4 and Galaxy Z Fold 4.

James Manning Smith, senior analyst at CCS Insight, told CNBC via email: “As the global economy shrinks in 2022, the premium line remains strong, benefiting Samsung and Apple so far. in this year”.

“One of Honor’s biggest challenges of the year is trying to capitalize on this trend, trying to win sales from well-known premium brands, especially in a year where a long budget will make people lose money. consumers seek to avoid purchases that are potentially more risky.”

According to Counterpoint Research, shipments of phones priced above $1,000 were up 94% year-over-year. This segment is dominated by Apple and Samsung.

But Honor’s Chinese competitors include XiaomiOppo and Realme have also managed to gain market share overseas by managing to launch mid-priced devices with high specifications.

That would pose another challenge for Honor.

Smith added: “Honor’s low-cost Chinese competitors have made some important strides in the European market over the past two years, a position they won’t give up without fighting. “Although Honor has ramped up its marketing, it faces some incredibly fierce competition outside of China.”



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