(Bangalore Comprehensive News) Honor, a Chinese smartphone brand Honor, returned to India and plans to manufacture in India in early 2024.
According to Reuters, Honor can enter the Indian market again, thanks to a license agreement reached with a newly established Honor Technology Company.The agreement did not openly follow the "negative costs" related to technology and hardware transfer.
Comprehensive Reuters, Shanghai Securities Journal, and China Securities News reported that Honor Technology Co., Ltd. is wholly -owned by local shareholders of India, and will provide services in India and selling Honor mobile phones.It will launch three Honor mobile phones in India, and the mid -end Number series is expected to be launched in September.
In July last year, Honor announced the withdrawal from the Indian market due to limited marketing budget and insufficient investment portfolio management.
Recently, Chinese companies have been in trouble in India. The Indian government has banned several applications and strengthened the review of investment to avoid China's acquisition operations.
According to the data of the Countpoint Research, Honor will compete with companies such as Samsung Electronics.Samsung Electronics is the best -selling mobile phone in India, accounting for nearly 20%of the market share, followed by vivo, Xiaomi, Realme, etc.
The goal of Honor Technology is to account for 5%of the Indian smartphone market in 2024, with a revenue of at least 100 billion rupees (about S $ 1.6 billion).
