Honor, the renowned smartphone brand, is poised to leave a significant mark on India’s rapidly evolving mobile manufacturing landscape. With an eye on contributing to the ‘Make in India‘ initiative, Madhav Sheth, the dynamic leader who previously spearheaded Realme, is set to steer Honor towards local production. In an exclusive interview with the Economic Times, Sheth unveiled a slew of strategic insights and pivotal business decisions that promise to shape Honor’s Indian journey.
Embarking on an Indian Odyssey Madhav Sheth affirmed that Honor is presently in discussions with three contract manufacturers in India, laying the groundwork for domestic production of Honor smartphones. This strategic move is slated to kickstart in the first quarter of 2024, signifying a resolute step towards aligning with India’s vision of bolstering indigenous manufacturing.
The commitment to this endeavor is underpinned by a substantial investment of Rs 400 crore by Honor towards the establishment of operations and distribution networks within India. This substantial capital infusion underscores Honor’s unwavering dedication to the Indian market and its resolve to be an integral part of the nation’s burgeoning mobile manufacturing ecosystem.
A New Wave of Honor Models Following the successful launch of the Honor 90 in India, Madhav Sheth hinted at a diverse array of models slated for the Indian audience. While specifics such as model names and launch timelines remain shrouded in secrecy, Honor’s foray into the Indian market promises to cater to an array of consumer preferences and requirements.
Festive Season Targets: A Testament to Ambition In a bid to make a significant impact, Honor has set its sights on selling over 50,000 units of the Honor 90 during the festive season. These units will be available through both online platforms and offline retail channels. The brand aims to generate an impressive Rs 60 crore in sales revenue during this festive period, further cementing its presence in the Indian market.
The ‘Make in India’ Phenomenon: A Global Trend Honor’s decision to manufacture locally aligns with a broader trend of global tech giants recognizing the advantages of ‘Make in India.’ This strategic move is buoyed by government incentives and a push for local manufacturing. Notably, several leading brands have already embraced this trend:
Samsung, boasting one of the largest mobile manufacturing units in Noida, produces a wide range of smartphones, from budget models to flagship devices, on Indian soil.
Apple, having initiated local production of its latest iPhone 15, is poised to expand its ‘Make in India‘ portfolio by manufacturing the iPhone 15 Plus model within the next quarter. Rumors also hint at potential iPad production in India.
iQOO, a prominent smartphone brand, has already been manufacturing its models locally at its Noida facility, with a remarkable capacity to produce 50 million phones annually.
Tata Group is reportedly set to take over Wistron’s operations in India, which includes a significant facility in Karnataka valued at over $600 million. This move could pave the way for Tata to manufacture iPhones for Apple within the country.
Xiaomi, OPPO, and Vivo, leading smartphone brands, continue to expand their local manufacturing capabilities, emphasizing the commitment to producing their flagship models in India.
With Honor’s entry into this ‘Make in India’ wave, the nation’s mobile manufacturing landscape continues to evolve, promising greater economic opportunities and technological advancements.
