Honor, a unit of Huawei, recorded $12 billion in revenue and 170 per cent global sales growth in 2018, the company said in a statement on Tuesday.
“We attribute this growth solely to our devices’ advanced features, reasonable pricing and a well-placed marketing and distribution strategy,” said Chris Sunbaigong, president of Honor in Middle East and Africa.
Honor, whose budget smartphones compete with Oppo and Samsung, grew its market share in the UAE by more than fivefold last year, according to Germany-based researcher GfK.
Honor’s meteoric rise in the region at a time when leading brands are seeing declining smartphone sales figures is a huge victory, said Mr Sunbaigong.
The Chinese company's 8X model, a phone marketed to millennials with a colourful design and sub-$300 price tag, has been on the market since October 2018 and has helped boost the company’s MEA market share since then. So far, over 10 million 8X smartphones have been shipped globally.
Honor devices also helped Huawei surpass Apple for the first time to take up second position in terms of global market share last year, according to International Data Corporation.
"We are targeting to capture at least 15 to 20 per cent of the overall MEA market share, in terms of smartphone shipments, in 2019. Our aim is to feature among the top three brands by the end of this year," Mr Sunbaigong told The National, in an earlier interview.
