Honor launched two high-end smartphones this week — the Magic Vs and Magic5 Pro — as the Chinese smartphone maker looks to take on Samsung and Apple.
Foldables accounted for just 1.1% of total smartphone shipments in 2022, according to research firm IDC, and are only expected to increase to 2.8% in 2026. But Zhao believes there is a future for these devices, even as he acknowledged challenges including the weight and battery life of these smartphones currently.
"Our ambition and target is develop the best foldable phone, so be the number one technology for foldable phones. And if we do this, I believe the market will become better and better, and the brand, all these things can grow based on this product," Zhao told CNBC. "We have this consideration, to be frank. How and when, I cannot disclose too much. But that direction we ... seriously consider that," he said.Honor was a brand under Chinese telecommunications giant Huawei. But U.S. sanctions in 2020 cut Huawei off from critical chips and access to Google's Android software, whichto a consortium of buyers that included the government of Shenzhen, the city where the company is headquartered.
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