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Like with its first handset, the latest model is also being imported from Honor Tech’s Chinese suppliers. The advanced technologies in the handset cannot be manufactured in India yet, Sheth reasoned.

Madhav Sheth, CEO of HTech India, told ET that the company has already invested Rs 400 crore towards setting up operations and distribution channels for the Honor brand in India.

Honor 90 5G: The brand said that the MagicOS 7.1 enables seamless collaboration across devices and the ecosystem, providing an immersive experience to the end consumers. The brand said that devices running different operating systems can connect to MagicOS devices at a system level.

PSAV Global will raise ₹1,000 cr in domestic loans to establish brand’s operations

Honor Phones 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.

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. Honor brand was launched and owned by Chinese telecom major Huawei which sold it to another Chinese firm Shenzhen Zhixin New Information Technology in November 2020.

HonorTech will be a full-fledged player and launch Honor-branded smartphones in the $100-$1000 price range, including foldable devices. It will also launch tablets, wearables and laptops next year.