Honor Makes Initial Moves Towards IPO

Honor is making initial preparations for a public listing of shares. IPO should aid the next stage of its development, the Chinese Securities Times reported.

The newspaper highlighted the former Huawei subsidiary would make various board and governance changes to meet listing requirements as it sought to capitalize on progress made in the last three years. Honor’s statement to the publication claims that rapid strategic and business development over that time, with its market position greatly improved. With the IPO, it expects to attract diverse capital.

Before its split from Huawei in 2020 Honor had focused on low- to mid-tier smartphones, with the Huawei badge donning the premium devices from the stable. However, since gaining independence Honor has pushed a range of high-end smartphones, foldables, and even high-fashion concept devices to consumers in China and further afield.

Canalys Q3 shipment figures for China place Honor at the top of the market with 11.8 million units and an 18% market share. In the first quarter reported since its split from Huawei (1Q21), the analyst house had Honor as the sixth largest vendor, with a share of around 5.4%.