Honor Joins Hands With Homegrown PSAV Before Re-Entering India Market
Honor's collaboration with homegrown PSAV Global is aimed to create job opportunities, greater skill development and better integration of technology.
Handset maker HonorTech has joined hands with Gurgaon-based PSAV Global, to expand its presence in India, the world's second-largest smartphone market. The company recently made an announcement on X, formerly Twitter, that it is set to make a comeback and launch smartphones in India. The company withdrew its operations from India back in 2020 after it got separated from Chinese tech behemoth Huawei. Huawei had sold the brand in November 2020 to Shenzhen Zhixin New Information Technology Co. Ltd.
The company's partnership is said to pave the way for local partnerships. This is also in tandem with the central government's push for technological self-sufficiency and marks a move in that direction. The company also intends to make India a manufacturing hub.
“We at HonorTech, are leveraging our experience and expertise to catalyze transformative change, utilizing latent talent, technical knowledge, R&D, and global supply chain. Our transformative endeavour seeks to harness and tap into untapped potential and skilled workforce, aiming to establish India as a global excellence hub. HonorTech is aligned with the Government’s vision to make India a manufacturing hub and a driving force for innovation that has gained significant momentum in recent years," Madhav Sheth, CEO, HonorTech, said in a statement.
Sheth and PSAV have formed a 100 per cent domestic joint venture (JV) collaboration.
The partnership between Honor and homegrown PSAV Global is in line with the "Make in India" programme. It is aimed to create job opportunities, greater skill development and better integration of technology into the country's socio-economic fabric. Locally manufactured mobile phone shipments crossed the 2 billion cumulative units mark under the "Make in India" initiative during 2014-2022, registering a 23 per cent CAGR, says Counterpoint Research. Prominent smartphone OEMs like Apple and Samsung are already assembling handsets locally.
It should be noted that Honor got independence from Huawei in 2020 and since then PSAV Global has been the official distributor of Honor products such as tablets, laptops and wearables in India. It was anticipated that PSAV would continue to be the official Honor distributor of smartphones.
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