Chinese Smartphone Brand Honor to Relaunch in India Through Licensing Deal with Local Company
Chinese smartphone brand, Honor, is all set to make a grand comeback in the Indian market after a hiatus. The company had previously stopped selling its smartphones in India due to limited marketing budget and portfolio management issues. However, with a new licensing deal in place, Honor is poised to regain its lost market share.
Honor has entered into a licensing agreement with Gurugram-based firm, Honor Tech, for an undisclosed cost. This strategic move will allow Honor to tap into the Indian market once again and regain its position as one of the leading smartphone brands.
As part of its comeback, Honor aims to start domestic manufacturing in India by early next year. The newly formed Honor Tech will be responsible for manufacturing, selling, and servicing Honor-branded smartphones in the country. The company’s CEO, Madhav Sheth, has also stated that all phones will eventually be manufactured in India, thereby boosting the government’s Make in India initiative.
Honor will be launching three variants of its smartphones in India, including a mid-range Number series expected to be released in September. This move showcases the brand’s commitment to catering to the diverse needs of Indian consumers and offering them cutting-edge technology at competitive prices.
However, it won’t be an easy road ahead for Honor in the Indian market. Chinese businesses have faced challenges recently due to government bans on apps and increased scrutiny on investments. Honor will have to navigate through these hurdles to regain the trust and loyalty of Indian consumers.
Competing with top sellers in India such as Samsung Electronics, Vivo, Xiaomi, and Realme won’t be an easy task. However, Honor Tech is up for the challenge. The company aims to capture a 5% share of India’s smartphone market by sales volumes in 2024, with a revenue target of at least 100 billion rupees ($1.20 billion).
Honor’s relaunch in India is not just a comeback story; it’s a testament to the brand’s resilience and determination to regain its position in one of the world’s largest smartphone markets. With domestic manufacturing plans and a strong focus on meeting consumer demands, Honor is ready to reclaim its glory in the Indian market.
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