Huawei Technologies plans to capitalize on its Honor sub-brand to expand its share of the market segment for phones priced between 2,000 yuan ($308) and 4,000 yuan, the company said yesterday.
Honor, which targets young consumers, generated $6 billion in revenue and sold 40 million smartphones in 2015.
"Cutting-edge technologies, instead of competitive prices only, have become top reasons for consumers to buy new phones in China," said Zhao Ming, president of Honor business.
Huawei's huge investment in research and development has helped Honor to sell well in the domestic market and 74 overseas regions.
Huawei yesterday displayed its new Honor V8 smartphone that features super high-resolution screen, dual cameras and rapid battery charging at the CES Asia 2016. Its price starts from 2,299 yuan.
The V8 smartphone supports VR glasses, which were also unveiled yesterday by Huawei.
At the end of the first quarter, Samsung led globally with a 24.5 percent share, followed by Apple's 15.3 percent and Huawei's 8.2 percent, said IDC.