A new report released by the research company TrendForce shows that the newly independent smartphone company Honor will occupy approximately 2% of the global market share in 2021 after being sold by Huawei.
On the other hand, the uninstallation of the Honor brand is bound to severely hit Huawei. Next year, the Chinese giant’s market share is expected to be only about 4%, a sharp drop from this year’s 14%.
Huawei has also been subject to several sanctions by the United States, restricting the company’s procurement of necessary components, thereby affecting the company’s ability to manufacture and launch new smartphones on the market.
Sanctions are the reason why Huawei decided to sell its honorary brand. Another Chinese brand, Xiaomi, will gain market share next year.
The report added that Xiaomi’s market share is expected to grow from 12% to 14%. As we reported, the company’s goal is to ship 240 million smartphones next year, surpassing Apple and Huawei ambitiously.
OPPO is expected to gain a 14% market share next year, increasing from 12%, while Vivo may see its market share grow from 9% to 11%. Although companies such as Xiaomi, OPPO and Vivo have tightened their supply chains, Honor may solve its supply chain problems in the second half of 2021.