Honor is also planning an initial public offering (IPO) to obtain capital and boost its worldwide expansion since the brand is no longer subject to the US embargo. Regardless, it is apparent that its goods are similar to Huawei’s. The manufacturer has been producing smartphones that resemble each other shoulder to toe. For example, the Honor 50 resembles the Huawei Nova while Honor 50 Lite, on the other hand, mimics the Huawei Nova 8i’s design. Honor was the number one brand in China in the first quarter of 2022, according to a Canalys survey, with 15 million handsets sold and a 20% market share. The manufacturer barely accounted for 5% of the market in the first quarter of 2021, indicating a 205 percent increase. The remainder of the list is intriguing: Oppo (18%) and Apple (18%) round out the top three in China. Oppo had a 34% reduction in sales from the previous year, while Apple saw a 17 percent increase. Vivo (16%) and Xiaomi (14%) round out the top five, having yearly reductions of 44 percent and 22 percent, respectively. In other words, Honor and Apple are the only two brands in China that are growing year after year.The rating for March 2022 shows a similar pattern. However, Vivo and Oppo continue to outperform Honor. Nonetheless, Honor’s market share rises from 5.5 to 16.9%, representing a 166.8% gain. Huawei’s revenue continued to fall throughout the same period. Sanctions on the Chinese tech firm are still in place. The Chinese conglomerate’s first-quarter sales were 131 billion yuan ($19.81 billion), down 13.9% from the previous quarter. To make a comeback, Huawei is working on expanding its, which includes the MateBook E, MateBook X, the new MateBook X Pro, the MatePad Paper, and a foldable smartphone, the Mate Xs 2.
