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Honor Smartphones: Since inception in August 2023, HTech has launched two handsets across the mid-premium and budget segments, and is looking to launch six more by the end of 2024, targeting the fast-growing premium segment which contributes 20% in volume terms to the smartphone market, according to Counterpoint Research.
Honor: "We ve already ploughed in $10 million into the business and are now looking to raise another $100 million, of which $20 million will be raised in the next six months," Madhav Sheth, chief executive officer of HTech, told ET. The smartphone player will be looking to dilute equity in the company - in which Sheth is now a majority shareholder - to raise the funds. "When you are doing something for the first time, having an equity partner will ensure the scale of growth is much faster," the executive said.
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