Honor is preparing for an IPO three years after becoming an independent company
Honor set off on its own path after it was split off from Huawei in late 2020. It has experienced rapid growth since then and is now ready to enter the next stage of its life â Honor executives are preparing an Initial Public Offering (IPO).
Key details are kept under wraps for now â where will the company stock be listed and when? There is still a lot of work to do before then, however, and it starts with reorganizing the board of directors.
Following an election at a shareholdersâ meeting, Mr. Wu Hui will serve as the director and chairman of the board with Mr. Wan Biao as the vice chairman. Thatâs not all, the board will see further changes to embrace diversity and meet regulatory requirements.
Based on data from IDC and Counterpoint, the smartphone market in China is still falling (but there are signs of an upcoming recovery). Honor still managed to eke out a sales grown (compared to Q3 last year) and is currently the biggest smartphone brand in the country ahead of vivo. The market in Europe isnât doing too hot either with established brands showing declining shipments year of year (based on Counterpoint data), but Honor once again managed to grow its share (the only brand in the Top 5 to do so).