Years after staying dormant, Honor is set to re-enter the Indian smartphone space with it’s Honor 90 handset, reports TechCrunch.
Talking to the local media, one of the company’s directors, Madhav Seth, said Honor is investing around $120 million on re-entering and aims to reach $1.2 billion in revenue, secure a 5% market share by December 2024 and begin local manufacturing early next year.
Honor is Back in India
More than three years after remaining silent, Honor waved at the Indian customers with a new smartphone – Honor 90 5G this week. The budget flagship handset sports a 6.7″ 1.5K quad-curved AMOLED display and runs on Snapdragon 7 Gen 1 chip.
With MagicOS 7.1, the handset has a 200MP rear primary lens and a 50MP selfie camera that can shoot 4K videos. Honour 90 is currently available in Malaysia, Europe, the Middle East and the U.K, but introduced in India for the first time, marking the company’s re-entry into the world’s second-largest smartphone market.
Though Honor is selling laptops, tablets and wearables in India, it remained dormant for the last three years after being sold by Huawei. The new owner, Shenzhen Zhixin New Information Technology, has partnered with PSAV Global to serve the Indian market.
As it continues to sell Honor-branded gadgets in the South Asian country, it chose HTech for selling smartphones now. The company announced a $120 million budget for securing this new business and aims to earn $1.2 billion in revenue and 5% market share by December 2024. Further, it also has plans for local manufacturing early next year.
As for how these plans will turn out, we have to wait and see. Honour is one of the top five smartphone brands in China, it’s home country, but it noticed the most significant shipment drop of 21% in Q2 2023 compared to earlier. Nevertheless, the company picked up momentum earlier this year, with foreign shipments growing almost 4x in Q1 2023 vs. last year’s quarter.
Other Trending News:- News
