smartphone market
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Honor Takes Crucial Step Towards A-Share IPO with Filing for Listing Guidance
Honor Device Co., Ltd. has initiated its IPO on the A-share market, filing for guidance with the CSRC. The company restructured to a joint-stock entity in late 2024, a key step towards public listing. Shenzhen Zhixin New Information Technology Co., Ltd. holds a controlling stake. With the backing of multiple investors including China Mobile and China Telecom, Honor aims to fuel its strategic growth through public markets.
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Midea Chairman Addresses Xiaomi’s Lu Weibing Visit: Reveals Which Appliance Giant—Midea, Gree, or Haier—Faces Market Displacement
CNBC AI News reported on May 19 that Midea Group Chairman Paul Fang revealed Xiaomi’s 2024 strategic presentation during a leadership meeting, outlining three key goals: becoming the world’s top smartphone vendor within three years, entering the global EV top five within a decade, and securing a top-three position in China’s home appliance market. Fang questioned whether Xiaomi aimed to displace established players like Midea, Gree, or Haier, but emphasized traditional manufacturers’ enduring advantages in supply chains and brand equity. Despite skepticism, Midea’s strategy team analyzed 100,000+ words of Xiaomi research, acknowledging parallels with their own 2010s digital transformation, though confirmed no automotive manufacturing partnerships despite industry speculation.
