HONOR Magic V2, V3 Launching in India; Big Challenge for Samsung?

HTech CEO Madhav Sheth recently confirmed in an interview that the company is planning to launch HONOR foldable devices in India. In an interview with Digit, Sheth stated that the HONOR Magic V2 and Magic V3 will be launched in India before the end of 2024. The Magic V2 will be priced under Rs 1 lakh, making it one of the most affordable foldable smartphones in India, while the Magic V3 will be priced above Rs 1 lakh. With these launches, HTech aims to establish HONOR as a premium smartphone brand. It will compete with the likes of Samsung, OnePlus, Google, and Vivo to capture a portion of the foldable market share.

HONOR Might Grab Samsung’s Market Share in India

Samsung currently dominates the Indian foldable smartphone market with a 79 per cent share, largely due to the success of the Galaxy Z Fold 5. According to Counterpoint Research, foldable smartphone shipments in India are expected to reach 0.8 million by 2024.

With the Magic V2 and V3, HONOR will join Google, OnePlus, TECNO, and Vivo in challenging Samsung's dominance in the foldable segment.

Sheth’s confidence is bolstered by a recent Counterpoint Research report, which revealed that Huawei claimed the global foldable smartphone crown from Samsung. In Q1 2024, Huawei, HONOR’s ex-parent company, held a 35 per cent market share, while Samsung had 23 per cent. HONOR also recorded a 12 per cent year-on-year growth, according to the report.

HONOR recently launched the Magic V3 foldable smartphone with a bold message aimed at Samsung. When folded, the Magic V3 is just 9.2mm thick and 4.35mm when unfolded, making it the thinnest and lightest foldable phone ever. Samsung is expected to launch the Galaxy Z Fold Special Edition, which will be 10.6mm thick when folded, but it may not be released in India. The HONOR Magic V3 comes with powerful on-paper specifications, and if priced competitively in India, it could pose a significant challenge to Samsung.

Oh, by the way! Speaking of powerful specifications, have you seen the new Huawei Mate XT? It’s the world’s first tri-folding smartphone, and it's actually available for purchase.

Before the foldable smartphone launch, HONOR introduced its premium Magic6 Pro in India, which received a positive response in its first sale. This success likely boosted the company’s confidence to launch foldable smartphones in the Indian market.

HONOR X9c Launching Soon in India

Madhav Sheth also confirmed that the HONOR X9c will be launching soon in India. Taking a subtle dig at his former company, Realme, Sheth remarked that he does not intend to flood the market with rebranded smartphones. HONOR is aiming to establish itself as a leader across all price segments.

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