Three years after going independent, Honor is getting ready for an IPO
Three years ago, Honor and Huawei split their paths. Since then, the company has witnessed growth and progression. As of now, the company is all set to embark on the next step of its success. According to some recent pieces of information, the company is getting ready for an Initial Public Offering (IPO).
Currently, the details have been kept under cover. There is no information regarding where and when the company will list its stocks. It needs a lot of homework and preparation. First and foremost, the board of directors must be reorganized.
Mr. Wu Hui will lead the board as chairman and director after a shareholders’ meeting election; Mr. Wan Biao will serve as vice chairman. Not only that, but the board will also undergo additional alterations to accommodate diversity and comply with legal standards.
In addition to this, the recent reports by IDC and Counterpoint suggest that the smartphone market has not yet recovered in China. However, there are indications of a recovery in the near future. Currently, Honor is listed among the biggest smartphone companies in China, with Vivo lagging behind. Compared to the third quarter of last year, the company managed to increase its sales this quarter.
According to Counterpoint data, the European market isn’t doing very well either, with established companies reporting decreased shipments year over year. Despite this, Honor has managed to increase its market share once more—it is the only brand in the Top five companies to do so.
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