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Huawei spinoff Honor appoints new president

界面新闻 • • 财经信息

By LU Keyan

As Honor, the Huawei spinoff phone maker, moves toward an IPO, WAN Biao, has been replaced as president by WU Hui.

Wu previously worked in local government. From 2021, he was chairman of Shenzhen Water and Environment Group.

In Q3 this year, Honor claimed the top spot in the domestic phone market with a market share of 19.3 percent.

Huawei cast Honor adrift in 2020 when US sanctions crippled much of the overseas smartphone business. One of Honor's most pressing tasks is to accelerate growth through international expansion, with a particular focus on Europe.

Under Huawei, Honor was a mid-priced brand that is now eyeing the premium end of the phone market where Apple and Samsung have been dominant for years.

Among the leading domestic smartphone manufacturers, there are not many that have chosen to go public. Apart from Xiaomi, which is listed on the Hong Kong Stock Exchange, there is only Transsion Holdings, whose main battlefield is overseas.

Currently, Xiaomi has a market capitalization of HK$380 billion, while the market capitalization of Transsion Holdings is 96 billion yuan.

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