Core Insights - The Chinese smartphone market is expected to see a slight year-on-year increase of 3% in sales during the 2025 Double Eleven shopping festival, primarily driven by Apple's iPhone 17 series, which experienced a significant year-on-year sales surge of 37% [1][3] Market Performance - Excluding Apple's contribution, the actual market sales would have declined by 5% year-on-year, highlighting the stark contrast between Apple's growth and the struggles of domestic brands [3] - Honor's sales fell by 14% year-on-year, with a market share of 11%, down 2% from the previous year, ranking sixth among major brands [3] Competitive Landscape - Honor's third-quarter sales decreased by 8.1%, the largest drop among mainstream manufacturers, with its market share falling to 14.4%, ranking fifth in the domestic market [5] - Honor's Magic series faces intense competition from Apple's iPhone, Huawei's Mate series, and Xiaomi's digital Ultra series, indicating a need for breakthroughs in brand appeal and unique technological selling points [5][6] Product Performance - The weekly sales of Honor's Magic 8 series were reported at 248,000 units, which is relatively low compared to other flagship models during the same period [5] - The initial sales of the Honor Magic 8 series were over 50,000 units, approximately 50% of the previous generation's first-day sales [5] Market Challenges - Despite recovering market share since its independence, Honor's growth model is seen as heavily reliant on its previous channel system and technology legacy from Huawei [6] - The return of Huawei and the aggressive push from other domestic brands may pose further risks to Honor's market share, especially as consumer upgrade cycles lengthen and purchasing decisions become more cautious [6]