Huawei's smartphone spin-off Honor plans IPO
Publishing timestamp: 2023-11-22 12:15:21
Summary
Honor, a spin-off of Huawei, has announced plans to go public and raise capital in public markets. The move highlights Honor's aggressive push in the smartphone market to challenge Apple and Samsung in the high-end segment. Huawei was forced to sell Honor due to U.S. sanctions, but the spin-off aims to continue operating and expand its brand globally. Honor has the largest market share in China and has recently launched expensive foldable phones. The company will begin preparations for an IPO and adjust its Board of Directors to meet governance and regulatory requirements.
Sentiment: POSITIVE
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Keywords: ipo, smartphones, mergers and acquisitions, technology, huawei, apple inc, business news,
Source: https://www.cnbc.com/2023/11/22/huawei-smartphone-spin-off-honor-plans-ipo.html