HONOR enters the Top 5 best-selling brands in Latin America for the first time

(Latam) HONOR is quickly positioning itself as one of the most important companies in the smartphone industry, managing to enter the Top 5 of the best-selling brands in Latin America for the first time during Q1 2024, according to Canalys, a technology market analysis firm. During this period, the firm also noted that the company achieved a 7% market share and a year-on-year growth rate of 293%.

This is one more milestone in a series of achievements for the brand in Latin America, where it has strengthened its presence in all countries of the continent. As a result, this region has become the company’s second largest market worldwide, second only to mainland China.

Key drivers of HONOR’s growth in Latin America

  • The company focused on building partnerships with major traditional channels such as carriers on the first tier and major local retailers on the second tier. Due to this strategic move, HONOR gained wide visibility and presence in key markets.
  • On the other hand, the brand has been able to position the key differentiators in its ranges through its communication and has focused on providing information about all the innovations that allow it to stand out above similar devices from the competition.

With these competitive advantages, HONOR is expected to continue its expansion and overcome challenges such as increasing its consumer base and strengthening loyalty to maintain and increase its market share.

In fact, according to data from Canalys, in the near future the smartphone market in Latin America is expected to continue growing for the rest of the year and reach 9% growth. This outlook, as well as the interest in devices with artificial intelligence (AI) capabilities, provide various development opportunities that HONOR is looking to take advantage of thanks to a series of AI-driven features within its new Magical 8.0 operating system that includes solutions such as MagicLM and Magic Portal.

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