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.
“We are looking to launch six mid-range and premium products, out of which some will be imported, and may be three or four could be locally manufactured,” Sheth said, adding that by the end of 2025, the company plans to sell at least 5 million units of locally made Honor phones in India.
HTech is in talks with electronics manufacturing services partners to get started on manufacturing Honor devices in India from the third quarter (Q3) of the 2024. “CBUs (completely boxed-units) are not able to survive in India anyways due to high duties, but to test the waters, we will continue to import a few units to see if they match the Indian consumer’s expectations,” said Sheth.
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