Honor Receives Investment from China Mobile, Prepares for IPO

TapTechNews August 24th news, according to a report by Bloomberg on the evening of the 23rd, the parent company of China Mobile Communications Group Corporation has invested in Honor Terminal Limited. Honor stated in a statement sent to Bloomberg that the company has received investment from China Mobile.

This marks the beginning of the cooperation between Honor and China Mobile. According to IDC data, in the second quarter of this year, Honor ranked fourth in the shipment volume of the Chinese smartphone market. A spokesperson for Honor said on Friday: Both sides will give full play to their respective advantages to jointly provide consumers with better and more innovative experiences. Honor is preparing for its initial public offering (IPO), and display manufacturer BOE is also one of its investors.

According to TapTechNews' previous report, in August this year, Honor responded to rumors related to listing, stating that it has always adhered to the principle of open and transparent development and will also continue to diversify its equity structure. Honor plans to start the corresponding joint-stock reform in the fourth quarter of this year and timely start the IPO process afterwards. Honor will disclose relevant financial data in the corresponding process. From January 1, 2021 to now, Honor has not received excessive support beyond that for ordinary enterprises from the Shenzhen government.