Honor, initially part of Huawei, embarked on its independent journey in late 2020. Since its separation, the company has seen significant growth and is now gearing up for a major corporate milestone – an Initial Public Offering (IPO).
The specifics of the IPO, such as the listing location and timing, are currently undisclosed, with the company focusing on internal restructuring, particularly its board of directors.
A recent shareholders’ meeting led to the election of Wu Hui as the director and chairman of the board, with Wan Biao as the vice chairman. These changes are part of a broader strategy to diversify the board and comply with regulatory standards.
In terms of market performance, Honor has made notable strides, especially in China and Europe. Despite a general downturn in the Chinese smartphone market, as reported by IDC and Counterpoint, Honor has managed to increase its sales, becoming the leading smartphone brand in China, surpassing Vivo.
Similarly, in the European market, where established brands are experiencing a decline in shipments, Honor has successfully expanded its market share, becoming the only top 5 brand to achieve growth in the region.