Honor recently unveiled its newest foldable phone, the Magic V2, in Europe. But based on the results of our weekly reader poll, the high price tag may limit its appeal.
A full one-third of responding readers felt the £1,700/€2,000 cost was simply too high, especially compared to rival foldable devices already on the market.
While only 11% took issue with the V2’s technical specifications, its premium pricing puts it at a disadvantage. Other foldables with slightly lesser specs but significantly lower costs are readily available to European consumers.
Additionally, 12% are playing the waiting game to see what new foldable phones emerge later this year. With the Magic V2 representing more of a 2023 design, rumors of upcoming releases like the Galaxy Z Fold6 have some holding off for now.
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Honor Magic V2 May Need to Adapt Its Strategy
The results put pressure on Honor to make some pricing adjustments if it wants mainstream success with the Magic V2. While an even pricier Porsche Design variant is set for an MWC unveiling, that caters to a narrow ultra-premium niche.
For a true foldable breakthrough, offering compelling innovations at a more palatable sub-€1500 price point seems key. Otherwise, many shoppers appear inclined to gravitate toward discounting older models instead.
So in a market where competition is heating up, Honor must continue calibrating its pricing approach. Finding the sweet spot that balances premium foldable parts with affordability is no easy task.