-
Honor, a Chinese smartphone maker, released its foldable smartphone, the Honor Magic Vs, to compete with premium phone makers like Apple and Samsung. Following its separation from Huawei due to U.S. sanctions, Honor aims to fill the gap left by Huawei's decline. The smartphone was launched in China in November 2022 and is now available in the UK, Germany, and Latin America.
-
The Honor Magic Vs will be sold at 1,599 euros ($1,690) in the European market and will compete with Samsung and Oppo's foldable devices on a global scale. Honor said it has tested the device by folding it and opening it up to 400,000 times with no problem. However, the foldable smartphone category remains in its early stages, accounting for only 1.1% of total smartphone shipments in 2022 and is expected to rise to 2.8% in 2026, according to IDC.
Why it matters
Honor, having gained significant market share in China, aims to expand its reach abroad with high-end offerings to win over new users. With Huawei's smartphone business suffering due to chip shortages and loss of access to Google's Android OS, Honor seeks to fill this gap and win back lost users.
