Chinese language smartphone firm Honor has launched units that fold as much as be almost as skinny as an iPhone.
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BEIJING — Chinese language smartphone firm Honor on Thursday introduced backing from new buyers because the Huawei spinoff prepares for an preliminary public providing.
The brand new backers are: China Telecom — one of many main telecommunications operators within the nation — CICC Capital, Chinese language enterprise capital agency Cornerstone and SDG, a fund linked to a Shenzhen financial zone. Honor mentioned its present companions additionally made a brand new funding spherical by way of an entity known as Jinshi Xingyao.
Honor mentioned earlier this yr it deliberate to begin altering its shareholder construction within the fourth quarter, after which it might begin the IPO course of “at an appropriate time.”
The corporate has not mentioned the place it might checklist. Honor introduced its IPO plans in November 2023.
Honor spun off from Chinese language telecommunications big Huawei in November 2020 after the father or mother firm was hit by U.S. sanctions. Huawei mentioned it doesn’t maintain any shares in Honor or have involvement in enterprise choices.
Final week, Honor revealed the subsequent model of its working system can use AI to imitate actions on a touchscreen, resembling opening an app to order espresso supply. The corporate on Wednesday launched its new Magic7 sequence of telephones that may use the AI options in China.
Slightly below one-third of Honor’s gross sales got here from exterior China within the first half of this yr, in keeping with Counterpoint.
— CNBC’s Arjun Kharpal contributed to this report.
