HONOR also witnessed growth of 9% year-on-year in this challenging market environment.
The smartphone market in Europe has been grappling with stagnant growth for years, with new models offering incremental improvements and little differentiation in form factors across manufacturers. The lack of a “wow” factor in new smartphones has prompted consumers to increasingly consider used and refurbished devices. While foldable smartphones show promise, they have yet to capture the majority of consumers’ interest.
