Honor's smartphone revenue has jumped to sixth in the world in just five quarters and captured a 3 percent global market share in the first quarter of 2022, according to Strategy Analytics. Strategy Analytics previously revealed that the top five smartphone market shares were Apple, Samsung, Xiaomi, OPPO and Vivo.
The report showed that in the first quarter of 2022, Honor's smartphone wholesale revenue grew 291 percent year-on-year, the fastest among all smartphone brands in the quarter, while Revenue of Xiaomi and Vivo declined. The global wholesale average selling price of honor also recorded the highest year-on-year growth rate of 70 per cent.
As a relatively young smartphone brand, Honor's sales are largely confined to the Asia-Pacific region, particularly its home market of China, Strategy Analytics noted. Strategy Analytics estimates that more than 95% of Honor's wholesale revenue came from the Asia-Pacific region in the first quarter of 2022. Honor's revenue grew 370% annually in the Asia-Pacific region and tenfold in the Middle East and Africa, although this growth was based on very small shipments.
According to the data, Honor's first phone was released in 2014, while Vivo's first phone was released in April 2011, Xiaomi's first phone in August 2011, and OPPO's first phone in June 2011.