HonorTech to relaunch Honor brand of phones, to invest Rs 1,000 cr

HonorTech will relaunch the Honor brand of smartphones in the country in September with plans to initially invest Rs 1,000 crore in the business, a senior company official said. For the relaunch, HonorTech is going to work under a licensing deal with a Chinese smart devices company Honor, in India.

HonorTech CEO Madhav Sheth told PTI that the company will aim to garner 4-5 per cent market share in terms of volume by end of next year, which will translate to a revenue of Rs 10,000 crore for the company.