Honor aims to grab 15-20 per cent market share in India by next year

Apr 15 2019 09:48 AM
Honor aims to grab 15-20 per cent market share in India by next year

Chinese company Honor aims to achive 15-20 per cent smartphone market share by 2020  and with this growth, it will become the third-largest company in the segment.

 Honor Business Unit President George Zhao told PTI "First, this year, we will build a clear brand image of a top-quality product in India. We invest a lot in our products. We have sent so many experts here to improve quality of production here. We will build a trust relationship with the local channel partner, retailer, internet service companies, etc. If we have this kind of relationship with eco-system, market share will follow."

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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 has been targeting to garner 10 per cent market share. Honor has been one of the fastest-growing brands in 2018, however, its market share was estimated to be around 3 per cent, as per Counterpoint Research.

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Zhao further added, "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.

 

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