- HONOR is preparing for an initial public offering (IPO) three years after parting ways with Huawei
- HONOR achieved rapid and strategic business growth in the last three years
- HONOR experienced near-200% growth in overseas markets and made strides in its home market
- HONOR was sold to a consortium of more than 30 agents and dealers back in 2020 after the US restrictions hit Huawei
HONOR prepares an IPO three years after parting ways with Huawei
The time has come, HONOR Is preparing for an initial public offering (IPO), three years after parting ways with Huawei. Now, the company did not specify a time frame for the listing, nor where it would be. However, the company did share some additional information. The company says that its position in the market greatly improved in the last three years. HONOR has “achieved rapid and strategic business growth”.
Changes in Company Structure for IPO
The company said that it will “continue to optimize its shareholding structure, attract diversified capital, and enter into the capital market through IPO”. HONOR also said that the composition of the Board of Directors will gradually be adjusted during the process. Why? Well, mainly to “embrace greater diversity for meeting the relevant governance and regulatory requirements”. HONOR announced that Mr. Wu Hui will serve as a director and the Chairman of the Board of the Company. Mr. Wan Biao will serve as the Vice Chairman of the Board.
Success in Overseas and Domestic Markets
So, what happened in the last three years? Well, a lot. HONOR has seen immense growth in overseas markets, a near-200% growth, to be exact. Counterpoint Research also highlighted HONOR as the only top five smartphone OEM to see growth in Europe YoY in Q3 2024.
HONOR has also made strides in its home market, as highlighted by Counterpoint Research.
Acquisition by Huawei and Future Prospects
Honor was sold to a consortium of more than 30 agents and dealers back in 2020. That was after the US restrictions hit Huawei. HONOR is not limited by the US ban after being sold, by the way. HONOR is showing huge promise, and it will be interesting to see what will happen from this point on.