BENGALURU (Reuters) - Chinese smartphone brand Honor will relaunch in India through a licensing deal with a local company and aims to start domestic production early next year, its executive told Reuters.
Honor has stopped selling its smartphones in India and reportedly backed down last year due to a limited marketing budget and less prudent portfolio management.
“India was never a core market for Huawei Technologies-owned Honor until 2020 – when it was forced to spin off the brand and re-strategise,” said Neil Shah, Vice President of Counterpoint Research.
Honor's return is underpinned by a licensing agreement with newly formed Gurugram-based Honor Tech for an undisclosed "agreed cost" related to the transfer of technology and hardware.
Honor will launch three phone variants in India, with the mid-range Number expected by September.
The company, fully owned by local shareholders, will manufacture, sell and service Honor smartphones in India.
All the phones will eventually be made in India,” CEO Madhav Sheth said without disclosing further details.
"The biggest problem with the (Indian) government in the past was how can a (Chinese) brand be responsible in India?" said Sheth, a former chief executive of rival Realme, who was instrumental in its expansion in India.
Recently, Chinese businesses in India have struggled as the government banned several apps and tightened investment controls to stave off takeover moves from its neighbor.
Honor will compete with Samsung Electronics – India's top seller with nearly 20% market share – followed by Vivo, Xiaomi, Realme and others, according to Counterpoint Research.
Honor Tech aims to capture a 5% share of the Indian smartphone market by sales volume in 2024, with revenue of at least 100 billion rupees ($1.20 billion), Sheth said.
China's technology powerhouse Honor is all set to celebrate its triumphant return to the Indian market with a strategic local manufacturing approach scheduled to launch in early 2024. After a brief hiatus, Honor is all set to win back the hearts of Indian consumers with its homegrown innovative products.
Honor's Grand Reentry: The highly anticipated return of Honor to the Indian market is on the horizon. Known for its cutting-edge technology and premium quality products, the brand devises an innovative approach to make a lasting impact on Indian consumers.
Localized Manufacturing: Honor's comeback strategy includes a significant shift towards local manufacturing. By setting up manufacturing facilities in India, Honor aims to not only effectively meet market demands but also contribute to the country's 'Make in India' initiative.
Early 2024: Local manufacturing plans are slated to begin in early 2024. The move is in line with Honor's commitment to rapidly re-establish its presence in the Indian technology landscape and offer consumers a range of advanced products.
Strengthening the Indian economy: Honor's decision to invest in local manufacturing has the potential to stimulate the Indian economy by creating employment opportunities and contributing to the growth of the domestic manufacturing sector.
Market Revolution: With its reputation for delivering high-performance smartphones, laptops and smart devices, Honor's return is expected to reshape the competitive landscape of the Indian technology market, offering consumers more options and pushing the boundaries of innovation.
Customer-centric approach: As Honor rebuilds operations in India, its focus remains on delivering products that resonate with the preferences and needs of Indian consumers. This customer-centric approach is poised to create a strong bond between the brand and its loyal customer base.
China's Honor is gearing up for an impressive comeback in India, signaling a new era of innovation and local manufacturing excellence. With plans to launch local manufacturing initiatives in early 2024, the brand is set to consolidate its presence in the Indian technology space, contribute to economic growth and redefine the technology landscape. Stay tuned for Honor's journey as it makes a resounding statement with its premium products built for the Indian audience.
China's Honor, a major player in the global smartphone market, is gearing up for a major comeback in India. After a hiatus, the brand announced its strategic comeback, backed by ambitious plans for local manufacturing to start in early 2024. With a history of delivering innovative and high-quality smartphones, Honor's re-entry promises to captivate the Indian audience one day. again.
Honor's Revival Strategy:
With eyes firmly set on re-establishing a strong presence in India, Honor has outlined a comprehensive strategy that revolves around local manufacturing. This move not only demonstrates the brand's commitment to the Indian market but also perfectly aligns with the country's 'Make in India' initiative. Through local device manufacturing, Honor aims to create employment opportunities, contribute to the economy and provide Indian consumers with smartphones tailored to their preferences.
Expected benefits:
Honor's decision to invest in local manufacturing in India has several benefits for both the brand and the country. First, it allows Honor to tailor its offerings to meet the diverse needs of Indian consumers, ensuring that each smartphone is tailored to the local market. Additionally, local manufacturing reduces import costs, allowing Honor to offer competitive pricing, which is especially important in a price-sensitive market like India. This move is also in line with the global trend of sustainable and responsible production, minimizing the brand's carbon footprint.
Cutting edge technology for Indian consumers:
Upon its return, Honor plans to introduce a range of smartphones that boast cutting-edge technology and innovative features. From impressive camera features to powerful processors and sleek design, Honor aims to redefine the smartphone experience for Indian consumers. This comes as exciting news for tech enthusiasts and smartphone users who are constantly on the lookout for the latest advancements in mobile technology.
As China's Honor prepares for its triumphant return to the Indian market, the brand's commitment to local manufacturing in early 2024 underscores its determination to meet the needs of Indian consumers. With a focus on innovation, quality and affordability, the return of Honor is all set to bring a new wave of excitement to the Indian smartphone world. As the brand rebuilds its relationship with Indian consumers, it is poised to reclaim its position as a formidable contender in the Indian smartphone market.
China's Honor is set to make a triumphant return to the Indian market with plans for local production to begin in early 2024. Read more about Honor's strategic move and its implications.
Chinese company Honor, a leading player in the global technology scene, is all set to celebrate its triumphant return to the Indian market. With a well-crafted strategy, Honor aims to start local manufacturing operations in early 2024, signaling a renewed commitment to India's tech-savvy consumer base.
The decision to re-enter the Indian market is in line with Honor's mission to offer superior, high-quality products while supporting local employment opportunities. By introducing local manufacturing, Honor not only strengthens its presence but also creates a significant foothold in the competitive Indian technology landscape.
Honor's strategic move is expected to have a number of benefits. By manufacturing equipment locally, the brand can ensure a faster and more efficient supply chain, leading to shorter delivery times and higher customer satisfaction. Moreover, the move could contribute to the 'Make in India' initiative, which supports the nation's vision of self-sufficiency in manufacturing.
In the past, Honor has gained a strong and loyal customer base in India through its innovative smartphones and smart devices. The upcoming local manufacturing plans are poised to further cement this relationship and strengthen Honor's growth trajectory. With a strong focus on delivering superior user experiences, the brand is all set to recapture the Indian audience.
As the world anticipates the return of Honor to India in early 2024, the move is expected to create a wave of excitement among tech enthusiasts and consumers alike. The brand's commitment to local manufacturing demonstrates its commitment to the Indian market and its aspirations to contribute positively to the country's technological development.
In China's Honor is poised for a grand return to the Indian tech landscape with a localized manufacturing strategy set to begin in early 2024. This strategic move not only reinforces Honor's commitment to excellence, but also underscores its key role in India's technological revival. Stay tuned for Honor's exciting journey.
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