Honor values 5G ecosystem at 100 trillion yuan

Chinese tech firms are developing an ecosystem for 5G technology, covering chips, smartphones and other devices and services, Shanghai Daily learned on Tuesday.

Honor, Huawei’s brand targeting young consumers, has released new 5G models and a 5G ecosystem is valued at “100 trillion yuan (US$14.3 trillion)” in the future, said Zhao Ming, Honor's president.

In 2020, at least 100 million 5G smartphones will be sold, accounting for a third of the smartphone market. Meanwhile, 5G and new-technology smartphones will become a catalyst to build a new ecosystem covering games, transport, social, maps, broadcasting and AR/VR（augmented reality/virtual reality).

“It’s key to attract the first batch of 5G users. They are high-end and young consumers, willing to test new things,” said Zhao. 

Honor released new V30 5G models, which feature Kirin 990 processors, support the latest 5G standard and have an improved Matrix Camera system.

The new models cost from 3,299 yuan (US$471), relatively more affordable compared with existing 5G models from Huawei, Samsung and Vivo.

Meanwhile, Taiwan-based chip designer MediaTek released new 5G processor Dimensity 1000 on Tuesday, offering strong performance in energy consumption and 5G signal, the company said.

MediaTek’s chipset will be used in new 5G smartphones in the fourth quarter and beginning of 2020.

Oppo and Vivo, China’s top 2 and top 3 smartphone vendors behind Huawei, have also announced 5G smartphone release plans in December. For example,  Vivo will soon launch a 5G model Vivo X30 with enhanced image and communication features, the company said on Tuesday.

MediaTek and Intel are cooperating in offering 5G-featured laptops, according to media reports.

Honor also announced updated versions of tablet and laptop models and a new smart watch supporting calls on Tuesday.

Last week, the Ministry of Industry and Information Technology issued a plan to promote 5G plus industrial Internet, pledging to make key 5G breakthroughs to meet specific requirements of the industrial Internet by 2022.

The country will build five industrial public service platforms and form at least 20 typical industrial application scenarios by 2022 to promote the integration of 5G and the industrial Internet.