Earlier this week, news surfaced regarding Honor planning a domestic listing. The company is apparently seeking an evaluation of a sizeable 45 billion US Dollars for its listing in China.

Recently, a new market research report from CINNO (Via ITHome) showed the quarterly sales result within the Chinese smartphone market. In this list, the Chinese smartphone maker ranked second overall, closing the gap between Oppo which had ranked first. The company had managed to sell over 12 million smartphone units during the first quarter of this year. This marks a 20.9 percent quarter on quarter growth and a whopping 176 percent growth year on year. In simpler terms, it’s clear that the company has come a long way since its independence from Huawei.

The brand had struggled with its operations within the first six months after it separated from its former parent company. But since then, it has established itself as a major smartphone brand in the country. So it arrives as no surprise that Honor would seek an evaluation of 45 billion US Dollars. As of right now, the company has yet to respond to any queries from domestic media or offer an official statement regarding this matter.

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Honor has become the third largest smartphone maker in China, as per a new report. The brand has overtaken industry giants like Apple and Xiaomi to reach the top three positions in the Chinese market.

According to ChinaDaily, a report from CINNO Research found that Chinese smartphone makers Oppo and Vivo took the first and second place in the smartphone market in China, with shipments reaching 5.6 million and 5.3 million units respectively. Meanwhile, Xiaomi arrived fourth with 3.9 million units shipped and Apple came fifth with 3 million units. On the other hand, Honor ranked third in its home country’s smartphone market, despite having face supply issues initially after it was sold by its former parent company, Huawei.

After its complete independence, the company had a market share in China of just 3 percent. But since then, the brand has managed to secure and stabilize its supply chain, enabling it to grow. Honor had recently launched the Magic 3 series of smartphones, which marked the company’s entry into the high end premium segment of the handset market. Furthermore, the CINNO Research report also found that the market experienced a steady growth last month, with shipments rising by 28.6 percent year on year reaching 26.68 million units.

Notably, 5G enable smartphones were the driving force behind this sizeable rise in shipments. 5G devices alone accounted for 22.83 million units or about 79.6 percent of the total sales. During this time, MediaTek saw a whopping 118.3 percent year on year growth, shipping over 10.2 million chips in July 2021. Qualcomm still ranked first, while Huawei HiSilicon saw its sales fall by a significant 70 percent.

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UPDATE: 

Pricing has been revealed. Honor 8 Lite starts at 1099 Yuan ($160) for 3GB + 32GB, 1399 yuan ($203) for 4GB + 32GB and 1599 Yuan ($232) for 4GB + 64GB.

Huawei had a big event today and the first product to be announced was none other than the Huawei Honor 8 Lite model, which we are already familiar with, thanks to the recent listing in Finland.

Huawei revealed that the Honor 8 Lite comes with a 12-layer mirror coating to make it look premium. The phone comes in four color options, Midnight Black, Streamer Gold, Sea Blue and Pearl White. The phone features a 5.2-inch 1080p display up front with curved glass on top. Under the hood, the Honor 8 Lite version features the mid-range Kirin 655 processor. In comparison, the Huawei Honor 8 flagship came with the powerful Kirin 950 chipset. One of the highlights of the device is that it runs on the new Android 7 Nougat version based on EMUI 5.0.

RELATED: Blue Honor 8 Lite with 4GB RAM Passes TENAA in China

At the back, the phone features a single 12MP f/2.2 aperture camera while up front, there is an 8MP wide-angle shooter. The front camera uses the light from the LCD to light up your selfies even under dark lighting conditions.

Other features of the Honor 8 Lite are already known to us. So, the phone comes with 3GB RAM, 32GB internal storage expandable up to 128GB and 3000mAh battery. There should be a 4GB RAM high version as well, but the company is yet to confirm this.

Also, Huawei is yet to release the pricing of the device, but we’ll update this article when the details are out.

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