Honor's 2024 Report Card: High-End Strategy Pays Off, Global Market Share Continues to Grow, Eyes the Foldable Future

Honor's 2024 Report Card: High-End Strategy Pays Off, Global Market Share Continues to Grow, Eyes the Foldable FutureHonor Terminal Co., Ltd

Honor's 2024 Report Card: High-End Strategy Pays Off, Global Market Share Continues to Grow, Eyes the Foldable Future

Honor Terminal Co., Ltd. delivered impressive results in 2024. In his New Year's address, Honor CEO Zhao Ming summarized the year's achievements and outlined future directions. 2024 saw Honor withstand market competition and make significant progress across multiple sectors. Driven by unwavering commitment to AI and a high-end strategy, coupled with a virtuous cycle of global business growth, Honor achieved sustainable expansion. A significant milestone was reached in December, with overseas sales surpassing 50% of total sales and achieving profitability in multiple regions, successfully transforming Honor into a global enterprise.

Honor's Major Breakthroughs in 2024:

• Solidified Leadership in the Foldable Screen Market: Honor achieved a 21% market share in China's large foldable phone market in 2024, securing a top-two position. Even more impressively, Honor surpassed Samsung to claim the top spot in the Western European market, exceeded a 20% market share in Malaysia, and reached a remarkable 54.9% share in Hong Kong. These achievements propelled Honor into the top five globally in the over $600 high-end market.

• High-End Breakthrough in the PC Market: Honor successfully established a premium image for its PC products in 2024, exceeding 6% of the high-end market share in China and entering the top four for the first time, demonstrating the success of its diversified product strategy.

• Significant Achievements in Overseas Market Expansion: Honor's overseas sales accounted for over 50% of total sales in December 2024, with profitability achieved in numerous regions, marking the successful implementation of Honor's internationalization strategy. This landmark achievement underscores Honor's strong competitiveness in the global market and its growing brand influence.

• Continued R&D Investment and Innovation: Honor maintained its commitment to technological innovation, making significant strides in foldable screen technology. Patents filed on August 19th, 2024, for a quad-foldable phone and a cross-folding design patent published by the State Intellectual Property Office in October, signal Honor's ambitious vision for the future of foldable screen technology. These innovations lay a solid foundation for future market competition.

Honor CEO Zhao Ming on Future Development Plans:

In a post-launch interview following the unveiling of the Honor Magic7RSR Porsche Design and its imaging technology, Zhao Ming addressed questions about the launch timing of quad-foldable phones. He stated that the final release of both tri-fold and quad-fold phones would depend on consumer demand and market scenarios. Honor has invested heavily in foldable screen technology over the past few years, exploring various designs, from outward-folding to inward-folding and different sizes, achieving exceptional thinness and lightness. Zhao Ming further clarified the maturity of tri-fold screen technology, stating that it's ready for mass production, with the launch date contingent on market response. This indicates Honor's technological readiness, awaiting optimal market conditions. Market predictions suggest a potential Q1 release for Honor's tri-fold phone, but official confirmation is pending. This demonstrates Honor's balance between technological advancement and market demand. Honor will not blindly pursue technological leadership but will adjust its product strategy based on market needs to ensure market competitiveness and profitability.

New Phone Launch Honor Play9T Pro:

Honor recently launched the Honor Play9T Pro, featuring a MediaTek Dimensity 6080 processor, a 6.7-inch FHD+ 90Hz display, and a 50MP rear camera, starting at 1099. This launch further enriches Honor's phone lineup, catering to diverse consumer needs and reflecting Honor's strategy across various price segments.

Honor 2024 Summary and Future Outlook:

Guided by its high-end strategy, Honor achieved remarkable success in 2024, experiencing continued global market share growth. Its ongoing investment and innovation in foldable screen technology have laid a solid foundation for future development. Successes in R&D, market expansion, and product strategy provide strong momentum for continued growth in 2025 and beyond. Zhao Ming's New Year's message, "Go to your own distant place with your own name," reflects Honor's brand confidence and future direction. Honor will continue to pursue its AI and high-end strategies, fostering a virtuous cycle of global business and sustainable growth, demonstrating its brand influence in the global market with even greater strength.

Honor's remarkable achievements extend beyond the mobile phone market, with breakthroughs in the PC sector. This demonstrates the effectiveness of Honor's diversification strategy and enhances its overall market competitiveness. Honor's 2024 success reflects not only its technological prowess but also the successful implementation of its market and brand strategies.

Honor's future plans showcase its keen understanding of market needs and its continued commitment to technological innovation. From foldable screen technology to diversified product portfolios, Honor actively seeks breakthroughs to maintain its leading position in a highly competitive market. Honor's 2024 success establishes a strong foundation for continued growth in 2025 and beyond, signaling Honor's sustained strength in the global market. Honor's future development is worth watching. Its continuous product innovation and precise grasp of market demand will maintain its leading edge in future market competition, ultimately achieving its ambitious goal of "going to its own distant place with its own name." Honor's 2024 report card marks a significant milestone on its long-term development journey.