Honor Achieves Record Growth in Latin America's Smartphone Market
In a remarkable ascent, Chinese smartphone manufacturer Honor has secured a significant position in Latin America's competitive mobile market. According to Canalys, Honor shipped 8 million units in 2024, capturing a 6% market share and marking a 79% year-over-year growth—the highest among all brands in the region.
This surge is attributed to Honor's strategic expansion in Central America, where it achieved over 200% growth, and its strong performance in countries like Mexico, Peru, and Colombia. In Peru, Honor emerged as a market leader alongside Xiaomi in Q1 2024.
Honor's success stems from leveraging Huawei's established infrastructure, enabling rapid market entry and partnerships with major carriers and retailers. The company's focus on mid-range and premium devices, such as the Honor X8b, Magic6 Pro, and Magic V2, has resonated with consumers seeking quality and innovation.
Despite intense competition in the sub-$200 segment, Honor is differentiating itself by investing in the premium market. The launch of high-end models like the Magic Pro series, priced over $1,000, signifies Honor's ambition to compete with established players like Apple and Samsung.
As Latin America's smartphone market continues to grow, with shipments reaching a record 137 million units in 2024, Honor's strategic positioning and innovative offerings suggest a promising trajectory in the region.
