Top Chinese Smartphone Manufacturer Set to Go Public with IPO in Third Quarter

Honor, a smartphone brand that separated from Huawei in 2020, is thriving in the market and planning to go public. After being sold off by Huawei to a consortium for $15.2 billion due to U.S. sanctions, Honor has emerged as a major player in the smartphone industry. In China, it is currently the third-largest smartphone brand and was the top brand in the country during the third quarter of this year, selling 11.8 million units.

In Europe, Honor also made its mark as the fifth most popular smartphone brand during the same period. The company has been making strides in the foldable smartphone market, offering a book-style foldable device called the Honor Magic V2. It is reportedly working on a clamshell flip-style foldable, set to be released in 2024.

Now, Honor has announced plans to enter the public market with an initial public offering (IPO). The company did not provide a specific timeline for the IPO or which market its shares would be listed on. However, it stated that its position in the marketplace has strengthened over the past three years, leading to the decision to go public as the next step in its development.

Honor aims to optimize its shareholding structure, attract diversified capital, and enter the capital market through the IPO. It also plans to make changes to its Board of Directors to embrace greater diversity in meeting governance and regulatory requirements.

During the third quarter, Honor led with an 18% share of the Chinese smartphone market, followed by Oppo, Apple, and Vivo, each with a 16% share, and Xiaomi with 14%. With its success and plans for the future, Honor is poised to make a significant impact on the smartphone industry both in China and globally.

Spread the love