Anyone who has not heard of Huawei’s Honor 6 Plus probably will soon.
The smartphone maker took a different approach with its May launch of the Honor 6 in the UAE when it was made available only online at souq.com.
And while the response has been a barnstorming success – its initial batch of 5,000 units sold out in a week – it is easy to see why.
The device, although priced in the mid-market, has an Apple iPhone look and feel about it, making it a commendable effort from the Chinese company.
The finish, like with the company’s new P8 flagship, is not completely clean, with a couple of rough edges on the faux glass back. But overall it looks like a Dh2,000 smartphone, rather than the Dh1,399 you will shell out for the 32GB phone, which runs on Android.
The 5.5-inch screen does an admirable job – for those wanting to boast, its resolution at 401 pixels per inch is on par with the iPhone 6 Plus.
The camera is also rather nifty, with an 8MP dual snapper to the rear and another 8MP up front. The shutter speed is rapid, eliminating the frustration you find with some smartphone cameras that jolt into action when the moment has already passed.
All of this is backed up by 3 gigabytes of RAM and an octa-core processor, giving it the kind of power that is extremely rare in a mid-market smartphone. There should be no fears of slowdown for gamers or video enthusiasts.
Deciding between the P8 and the Honor 6 Plus would be a tricky decision.
The P8 is slightly smaller at 5.2 inches and, given that it is a few hundred dirhams more expensive, is more stylish.
However, there is not much between them technically, and with these two phones now available Huawei is building a strong line-up that is tempting iPhone and Samsung Galaxy fans into spending less.
q&a more for less
Ian Oxborrow gives more details about Huawei smartphones:
All this technical wizardry for just Dh1,399? They must be flying off the shelves, or rather, into delivery vans.
Indeed they are. Huawei said its smartphone range has experienced growth of 39 per cent during the first half of the year, largely on the back of the Honor brand. It said it accounts for 40 per cent of its 48.2 million worldwide shipments and a device is sold every 1.5 seconds.
So, it’s just like an iPhone, but a whole lot cheaper.
Yes, there is a strong likeness, and it is certainly winning over phone buyers in its home country, China. Data from independent analyst firm Canalys released yesterday showed Huawei was the nation’s second largest smartphone manufacturer with 15.7 per cent market share, behind first-placed Xiaomi and ahead of third-placed Apple.
Is it the end of the road for smartphone big-guns Apple and Samsung then?
Well, it would be a bit hasty to say that. However, they are coming under increasing pressure, especially now that some of the “lesser” brands are producing high-standard technology, as seen with the Honor 6, at lower prices.
Anything else?
Yes, the all-important battery of course. It takes 2 hours, 51 minutes to charge (not quite to the second), and the device will last for 1.25 days on heavy usage, which is decent compared to its peers.
ioxborrow@thenational.ae
Follow The National's Business section on Twitter
The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
