Chinese smartphone maker Honor has announced new investors, including China Telecom and CICC Capital Corporation, following its earlier announcement nearly a year ago of plans for an IPO, reports Reuters.
Honor, a former sub-brand of Huawei Technologies, did not disclose the investment amount. Other investors include China Cornerstone, the Shenzhen city government’s SDG Group, and Honor’s channel partner investment platform, Jinxi Jingyao.
The company aims to go public by the end of November, though it has yet to specify the IPO location or timeline.
In Q3, Honor captured a 15% market share, placing it among the best-selling smartphones in China, following Vivo and Huawei. This follows an August investment from China Mobile, the amount of which also remains undisclosed.
