Chinese smart phone brand Honor aims to have 15-20 per cent smart phone market share by 2020 which will make it the third-largest player in the segment.
Honor Business Unit President George Zhao told PTI, “First, this year, we will build clear brand image of top-quality product in India. We invest a lot in our products. We have sent so many experts here to improve quality of production. We will build trust relationship with local channel partner, retailer, internet service companies etc. If we have this kind of relationship with eco-system, market share will follow.”
When asked about the market share that Honor expects by 2020, Zhao said ’15-20 per cent’ and added that “it is not much important”.
The Honor brand from Chinese telecom firm Huawei, has been targeting to garner 10 per cent market share. Honor has been one of the fastest-growing brand in 2018, however, its market share was estimated to be around 3 per cent, as per Counterpoint Research.
According to Zhao, “We can pave the way to become number one in India. We have to make people aware of our quality. Ninety-ninety five per cent of Honor phones are manufactured in India. In India, today, if you go to Amazon, our return rate is the lowest and loyalty for Honor brand customer is very high.”
Honor has the target to be among top 4 smart phone brands globally and top 2 in China.
Huawei started Honor brand for sale of smart phone through e-commerce platforms in economy to medium range segment. In the past two years, the brand has been offering smart phone in the premium segment as well which falls in the price of range of Rs 30,000 and above.
\Huawei brand smartphones, which were positioned by the Chinese telecom firm as premium brand only, have started coming in medium range as well.
Zhao said that in retail market, Honor will compete with Huawei brand phones as well.
“When end-consumers go to market, Honor and Huawei are two choices. From this point of view, we are competitors. We will have products starting from Rs 6,000 to Rs 50,000,” he said.