Honor Plans to Go Public

Competing against the big boys within three years after it spun-off? They really are becoming the new Huawei.

Honor Store in SM City Marilao

If Huawei wasn’t cracked and crippled by US sanctions and still have Google, their situation would have been similar to Honor. Now, the company is lifting itself from its crippling sales, now to one of China’s largest smartphone makers, and globally, one of the most renowned. Don’t take our word for it, just look on how many Filipinos love the brand, as if Huawei never left.

Not just that, the Display Supply Chain Consultants (DSCC) reported that Honor is on its way to become one of the largest foldable smartphone makers, with the Magic V2 gaining a slow and steady momentum as even Samsung’s dominance is drawing to a close. There’s this magic (pun intended) that Honor is sprinkling out that others cannot replicate.

With the growing smartphone sales and the future looking bright ahead of the company, Honor is announcing its first Initial Public Offering (IPO). Though, it wasn’t disclosed which stock exchange they are planning to be listed in, the company is surely preparing for bigger things to come.

“In order to meet new strategic goals, Honor will continue to optimize its shareholding structure, attract diversified capital, and enter into the capital market through IPO (initial public offering),” the company said in a statement.

When Huawei was crippled by US transactions back in 2020, it also affected their subsidiaries, including Honor and HiSilicon, thus forcing the company to sell the former to several investors, including to the local government of Shenzhen, China’s own Silicon Valley, and where Honor is headquartered.

Under Huawei, Honor is positioned similarly to today’s POCO or Realme. If that was still the case, we might see Honor competing against these two brands and most importantly, many of Huawei’s premium and budget handsets would be rebranded under Honor, and may also include Leica branding. With Huawei gone however, that means Honor lost the important R&D that Huawei developed, which also reduced the quality of the brand’s software, notably, in the camera sector. In addition, Honor also lost several elite employees that Huawei once had.

Nevertheless, Honor was able to come back to the top, like a rising phoenix. Today, the Magic5 Pro stands on DXOMark as one of the best cameras ever put on a smartphone, and that’s a stunning feat considering its manpower is greatly reduced.

Source: CNBC