Q2 2024: Honor: Double-Digit Smartphone Shipment Growth

Honor's global smartphone shipments rose 12% YoY to 15.6 million, but it fell behind rivals in China and saw revenue decline due to lower ASP amid fierce competition.

Driven by the overseas expansion, Honor’s global smartphone shipments grew 12% year-over-year (YoY) to 15.6 million units. However, in Q2 2024, it lost leadership and ranked behind vivo, OPPO (including OnePlus) and Huawei by volume in China market. Meanwhile, due to average selling price (ASP) drop, Honor’s wholesale revenue declined YoY, indicating an intensified competition in the high-end segments in China from Huawei’s resilience.

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