Huawei Spinoff Honor Begins IPO Path as Phone Demand Improves

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Honor split from Huawei in 2020 and is majority-owned by the local Shenzhen government. Photo: Bloomberg

(Bloomberg) — Chinese smartphone-maker Honor Device Co. Ltd. has begun preparations for an IPO, three years after it was spun off as an independent business from Huawei Technologies Co. Ltd.

The Shenzhen-based firm will adjust the composition of its board to meet diversity standards for a publicly listed company, it said in a statement Wednesday, without specifying a timeline or bourse for its public debut. Honor is majority-owned by the local Shenzhen government and counts display maker BOE Technology Group Co. Ltd. among its backers.