Shulou(Shulou.com)11/24 Report--

CTOnews.com, April 28 (Xinhua) according to the latest Chinese mobile phone market report released by IDC, about 65.44 million mobile phones were shipped in the domestic market in the first quarter of 2023, down 11.8% from the same period last year. Moreover, with the beginning of 2023, the performance of the mobile phone market remains lacklustre, continuing the trend of more than 10% year-on-year decline in shipments each quarter since 2022.

But Glory's performance in the high-end market bucked the trend in 2023, according to Toby Zhu, a third-party technology analyst. According to the data disclosed by industry insiders, since Honor's high-end flagship Magic5 series was first sold, the market has highly recognized it. Among them, the sales of domestic stalls with more than 5000 yuan in the first week increased by 220% compared with the previous generation; Q1 shipments in Europe increased by more than 400% year-on-year, and sales increased by nearly 300%; Q1 shipments in the Middle East increased by more than 500% year-on-year, and sales grew by more than 500%. Latin American Q1 shipments grew by more than 1000% and sales grew by more than 800%; and Q1 shipments in Malaysia increased by more than 300% and sales increased by nearly 500%. Among them, the pre-sale of Magic5 Pro in Europe is also very popular, with pre-sales in large countries such as Britain, France and Germany growing by more than 300%, while Italy and Spain growing by more than 300%.

Analyst Toby Zhu also pointed out that Glory began its overseas market layout last year and is still in the growth stage in the international market. However, judging from the progress of overseas Magic5 series, Glory already has strong brand awareness, consumer awareness and channel advantages in the European market. In the domestic market, Glory Magic5 series has gained a good reputation in display, communication and battery life, and its innovation and high quality have been further recognized by consumers. In particular, the Magic5 series Pro and Zhi Zhen version are on an equal footing with the standard version in terms of market share for the first time, and are very popular. Glory said that it will continue to actively launch mid-and high-end models to achieve its significant growth in the international market.

When asked about the possible future development direction of Glory, analyst Toby Zhu predicts that Glory has taken the initiative to adjust at the beginning of the year, which is conducive to reducing pressure on the channel, and its advantages in the high-end market will gradually emerge, so Glory still has a relatively large opportunity and space to pick up at the beginning of Q2. At the same time, the analyst also said: "although there is little room for growth in the domestic smartphone market, the whole market has shown resilience and is not expected to fall sharply this year and will remain generally flat."

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