A new forecast by research firm TrendForce says Honor will only take up 2% of the global smartphone market next year.
Of course, the sale of Honor will hit Huawei very hard, which is barely afloat under the pressure of US sanctions and their aftermath. If this year, analysts will give the company only 14% of the global smartphone market, then next year, according to the forecast, the company’s share will drop to 4%. With such results, Huawei will have to compete for a place in the top ten since the company will definitely not get into the top five.
As a reminder, the US sanctions imposed on Huawei limit the company’s ability to purchase essential components, which affects Huawei’s ability to manufacture and sell new smartphones. Also, the sanctions were the main reason for Huawei’s decision to sell its Honor brand.
Also, Xiaomi is predicted to strengthen its position next year significantly. TrendForce analysts predict an increase in Xiaomi’s share from 12% to 14%. However, Xiaomi itself is much more optimistic and intends to sell from 240 to 300 million smartphones. The company wants to get ahead of Apple and possibly compete for first place with Samsung.