Chinese smartphone maker Honor will spend $10 billion over the next five years to develop AI for its devices, as the former Huawei unit prepares to go public.
The Shenzhen-based company aims to expand from being primarily a smartphone maker to developing AI-powered PCs, tablets and wearables, CEO James Li revealed yesterday (March 2). Li unveiled the company’s ambitious plans during a speech at the Mobile World Congress (MWC) trade show in Barcelona.
Chinese smartphone maker Honor will spend $10 billion over the next five years to develop AI for its devices.
In December 2024, Honor announced that it had completed a shareholder restructuring that would move the company closer to an initial public offering, although no specific timeline has been announced.
Honor's announcement comes amid a boom in Chinese AI investment fueled by interest in startup DeepSeek's low-cost large language models, with interested parties ranging from local governments to home appliance makers quickly integrating DeepSeek's technology or conducting more AI research.
According to data from consultancy IDC, Honor fell from second to fourth place in phone sales in China last year, with 14.9% market share, amid fierce competition from former parent Huawei and strong growth from Vivo.
Honor receives a lot of support from the Shenzhen local government, from research and development, tax reduction to support for expanding product brands abroad.
(Source Reuters)
Source: https://www.baogiaothong.vn/nha-san-xuat-dien-thoai-trung-quoc-do-10-ty-usd-vao-cac-thiet-bi-ai-192250303064556907.htm
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