Honor has gone its own way since its separation from Huawei at the end of 2020. Since then, it has seen 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 kept under wraps for now – where and when will the company’s stock be listed? But before that, there is still a lot of work to be done, and it starts with reorganizing the board of directors.
After the election at the shareholders’ meeting, Mr. Wu Hui will serve as the director of the board and Mr. Wan Biao, the chairman of the board, will serve as the vice chairman. Not only that, the board will also consider further changes to embrace diversity and meet regulatory requirements.
Q3 smartphone market 2023 in China and Europe
According to IDC and Counterpoint data, the smartphone market in China is still falling (but there are signs of recovery soon). Honor still managed to achieve increased sales (compared to last year’s Q3) and is currently the largest smartphone brand in the country ahead of Vivo. The market in Europe is not so hot due to the decrease in shipments of the year for established products (based on the data of the panel), but Honor managed to increase its share again (the only one in the top 5 to do so).