荣耀要上市，只能甩掉“华为的影子”

Core Viewpoint - The article discusses the challenges faced by Honor after its independence from Huawei, highlighting the impact of Huawei's resurgence on Honor's market performance and the strategic shifts under new leadership. Group 1: Honor's Independence and Initial Success - Honor benefited from the "Huawei halo" effect after its independence in 2020, leveraging its association with Huawei to gain market share [4][5][9] - In 2021, Honor achieved a market share of 11.7%, ranking fifth in China's smartphone market, and by 2022, it rose to second place with an 18.1% market share, showing a year-on-year growth of 34.4% [9] - The strategy of positioning itself as a "Huawei alternative" allowed Honor to thrive during Huawei's absence from the market [6][7] Group 2: Impact of Huawei's Return - Huawei's return in late 2023 significantly affected Honor, leading to a decline in its market performance and the departure of long-time CEO Zhao Ming in January 2025 [3][21] - Despite Huawei's resurgence, Honor maintained a market share of 17.1% in 2023, ranking second, but faced challenges as Huawei's new models began to compete directly with Honor's offerings [10][15] - By 2024, Honor's market share began to decline, dropping to 14.5% in Q2, while Huawei's sales surged by 50.2% during the same period [19][20] Group 3: Strategic Shifts and Future Directions - New CEO Li Jian aims to pivot Honor towards AI and robotics, announcing a five-year plan to invest $10 billion in AI technology and ecosystem development [24][26] - The launch of the Honor 400 series is seen as a critical moment for the company, with hopes of revitalizing sales and market presence [28][29] - Despite ambitious plans, the effectiveness of AI and robotics initiatives remains uncertain, with the smartphone business still being the core focus for Honor [32][33] Group 4: Market Challenges and Outlook - Honor faces a saturated smartphone market with strong competition from established players like Huawei, Apple, Xiaomi, OPPO, and vivo, making it difficult to regain market share [38][39] - The company is under pressure to prove its viability in the market, especially as it aims for an eventual public listing [36][37] - The article concludes that Honor's future hinges on its ability to adapt and innovate in a challenging landscape, while still grappling with its identity post-Huawei [40]