Honor has witnessed fabulous sales in its wearables segment in the first three quarters of the previous year. The company has claimed that its sales have increased by 1333% YoY in the last year compared to 2018 for the same period. The Honor’s 1+8+N strategy has finally come to work and the results show the company will also follow the strategy in the current year. In the 1+8+N plan, ‘1’ refers to one smartphone while ‘8’ for smartwatches, trackers, earbuds and other IoT gadgets. And the ‘N’ stands for mobile offices, smart homes audio-visual entertainment, etc.
The company has increased its sales in Russia, where it has achieved 84% growth. Now honor sits on 25% shares of the wearable products in Russia. Thanks to its newly launched Magicwatch 2 smartwatch & Band 5i fitness tracker which are now available in the major markets. India is also a big market for Honor. In the country, its Band 4 & band 5 are most selling bands after Xiaomi’s Mi Band 3 & Band 4 trackers.
Not only in the wearable market, but the smartphone market has enhanced its sales. In the smartphone segment, the company has seen a growth of 21% in the overseas market. The Honor MagicWatch 2 & Band 5i has just launched in India and soon available in more countries. These new wearables may help the company to grab some more shares from its competitors.