Honor started its journey after being separated from Huawei at the end of 2020. Since then it has experienced rapid growth and is now ready to enter the next phase of its life: Honor executives are preparing an initial public offering (IPO ).
Key details are being kept under wraps for now: Where will the company’s shares be listed and when? But before then there is still a lot of work to do, starting with the reorganization of the board of directors.
Following the election at the shareholders’ meeting, Mr Wu Hui will serve as director and chairman of the board of directors with Mr Wan Biao as vice chairman. But that’s not all, the council will see further changes to embrace diversity and meet regulatory requirements.
Smartphone market in the third quarter of 2023 in China and Europe
According to data from IDC and Counterpoint, the smartphone market in China is still declining (but there are signs of an imminent recovery). Honor still managed to achieve sales growth (compared to the third quarter of last year) and is currently the largest smartphone brand in the country ahead of vivo. The market in Europe isn’t doing too well either, with established brands showing declining shipments year-on-year (based on Counterpoint data), but Honor has once again managed to increase its share (the only brand in the Top 5 to do so).
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