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Chinese mobile device maker Honor is securing its position as one of the fast-rising brands in the consumer space with fresh investments led by China Telecom, a unit of CICC Capital Corp.
Honor was formerly a unit of Chinese tech giant Huawei up until November 2020. The brand is now under Zhixin New Information Technology, a majority state-owned company in Shenzhen.
Other new investors include China’s Cornerstone, the Shenzhen city government’s SDG Group, and Jinshi Xingyao, an investment platform for Honor’s channel partners. The company, however, did not disclose the investment amount.
Industry analyst firm Canalys listed Honor as the third best-selling smartphone brand in China with a 16% market share in the first quarter of this year. Huawei and Oppo take the first and second spots, respectively.
Honor has been aggressive in promoting its mobile devices launching one product after another. It also forged partnerships with global luxury brands, including Porsche, to push new technologies. Recently, it announced AI integration in its devices.
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