China Mobile invests in Honor to boost digital services: Report

China Mobile reportedly invests in the Honor Company. Both firms aim to expand the smartphone network services among customers. Perhaps the new alliance will result in more dynamic network capabilities for Honor device users in the native region.

Honor recently wrote an email to Bloomberg. The company described the latest investment made by China Mobile and how the cooperation will work in the future.

An Honor spokesperson revealed on Friday (August 23, 2024) that both companies will look after their responsibilities to promote digital services. This will ultimately offer a stable, better, and more efficient network experience for Chinese consumers.

“Both parties will give full play to their respective advantages and jointly provide consumers with a better and more innovative experience.”

The former Huawei subsidiary added more statements to China Mobile’s investment. It says that Honor has always worked on open and transparent development for its consumers. The company welcomes China Mobile in financial investment with good synergy in the innovation of the commercial and consumer device market.

China Mobile and Honor have not disclosed major details of this investment such as the amount of purchasing stakes and more. Though ‘China Mobile invests in Honor’ news will bring industrial and economic benefits for both companies.

Last year, Honor said that it was looking to improve its ownership structure. It started preparing for an IPO (initial public offering) after being separated from its parent firm Huawei. This initiative shows a step towards diversifying the company’s capital.

The next step in China Mobile and Honor cooperation would likely become official in the upcoming days. Stay tuned.

[Source – Bloomberg]