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Honor Prepares For IPO 3 Years After Becoming Independent

Once linked with Huawei, smartphone brand Honor have seen growth after becoming independent three years ago. Now, executives are planning the next step, preparation of an Initial Public Offering (IPO). 

The company quit the Australian market two years ago, after attempting to get their products ranged and the Federal Government has banned them as being a supplier of 5G services.  

Details about the IPO are still top-secret, and there is still a lot of work to be completed prior but the beginning stage is reorganizing the board of directors. 

A new director / chairman and vice chairman have been selected during a shareholders’ meeting, and the board is set to see further changes embracing diversity, and meeting regulatory requirements. 

Data from IDC and Counterpoint has revealed the Chinese smartphone market is falling, however there are signs of an upcoming recovery.  

Honor has still managed to grow sales, compared with last year, and is currently the biggest smartphone brand in the country.  

Europe’s market isn’t doing too well either as established brands are showing declining shipments, year on year. However, Honor, once again, managed to keep growing shares, and is the only brand in the Top 5 to do so. 

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