Chinese language smartphone firm Honor has launched gadgets that fold as much as be practically 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 stated its present companions additionally made a brand new funding spherical via an entity known as Jinshi Xingyao.
Honor stated earlier this yr it deliberate to start out altering its shareholder construction within the fourth quarter, after which it could begin the IPO course of “at an acceptable time.”
The corporate has not stated the place it could listing. 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 stated it doesn’t maintain any shares in Honor or have involvement in enterprise selections.
Final week, Honor revealed the following model of its working system can use AI to imitate actions on a touchscreen, similar to opening an app to order espresso supply. The corporate on Wednesday launched its new Magic7 collection of telephones that may use the AI options in China.
Just below one-third of Honor’s gross sales got here from exterior China within the first half of this yr, in response to Counterpoint.
— CNBC’s Arjun Kharpal contributed to this report.