Honor, a smartphone company spun off from the Chinese tech titan Huawei, has announced its intention to go public.
The company did not specify what country it would list in.
“In order to meet new strategic goals, Honor will continue to optimize its shareholding structure, attract diversified capital, and enter into the capital market through IPO (initial public offering),” the company said in a statement.
Huawei sold Honor in 2020 after US sanctions against the company severely hurt its smartphone division by restricting access to software and semiconductors. Honor was bought by a consortium that included the government of Shenzhen, the city where its headquarters are located.
Now, Honor is going public as it moves to challenge Apple and Samsung for dominance in the high-end smartphone market. The company has the largest market share in China but has yet to extend its reach very far globally.
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