Honor anticipates surge in 5G smartphone sales

More than 60 percent of all smartphones sold on the Chinese market this year will be 5G models, according to Honor, a brand under Huawei targeting young consumers.

Honor plans to sell 10 million of its Honor 30 models  within months amid rebounding domestic demand, company president Zhao Ming said on Thursday.

Honor 30 smartphones are priced from 2,999 yuan (US$428), an aggressive price point among competing 5G models which mostly sell for more than 4,000 yuan. The devices feature Huawei-developed Kirin 5G processors and will start sales on Tuesday.

"The worst time has passed and the (domestic) market has started to rebound since March," said Zhao, referring to a dropoff in sales during the height of the coronavirus epidemic.

Huawei is also offering new 5G models in the high-end segment, such as a flagship model priced at over 10,000 yuan.