Honor eyes India as key market, to partner with Honor Tech to tap potential

Chinese handset brand Honor is looking to India as a key market for its smartphones. The company is currently working on setting up operations in India with a local partner, and is discussing what kind of product portfolio will work best for the market.

Honor CEO George Zhao said that India is a huge market with a lot of potential, and that the company is taking a cautious approach to entering the market. He said that Honor has recently launched its Honor 90 phone in other markets, and that the phone has been well-received. He added that the Middle Eastern market has been a good start for Honor, and that the company is looking to replicate that success in India.

Honor’s comeback is underpinned by a licensing deal with a newly formed Gurugram-based firm Honor Tech for an undisclosed “agreed-upon cost” tied to the transfer of technology and hardware.

It will launch three variants of Honor phones in India, with the mid-ranged Number series expected by September.

The company, wholly owned by local shareholders, will make, sell and service Honor-branded smartphones in India.

Honor will compete with the likes of Samsung Electronics – the top seller in India with a near 20% market share – followed by Vivo, Xiaomi, Realme, and others, per Counterpoint Research.

Honor Tech aims to capture a 5% share of India’s smartphone market by sales volumes in 2024, with a revenue of at least 100 billion rupees ($1.20 billion), Sheth said.

CT Bureau