PSAV Global, the brand partner of Chinese smartphone company Honor, is in talks with electronic manufacturing services companies to begin production of Honor devices in India from November, a top company official said.
PSAV Global Co-founder and CEO CP Khandelwal told PTI the company plans to garner 1 per cent market share in the first year with the 'Made in India’ Honor smartphones, resulting in around Rs 2,500 crore revenue.
"After CKD (complete knocked down) manufacturing begins, our first-year target is to achieve approximately 1 per cent market share, which translates to around Rs 2,500 crore in revenue. This target will be achieved within the first year of manufacturing operations, from November 2025 to November 2026," he said. According to Counterpoint Research report on global mobile phone supplies for the first quarter of 2025, besides the top 5 brands, Honor was among the fast-growing brands and providing tough competition globally.
Huawei was the biggest OEM in China in Q1, while Honor and Motorola showed high growth in multiple markets, the report said.
PSAV is the official brand partner of Honor Tech in India. Earlier, it was part of the Chinese telecom gear giant Huawei.
Khandelwal said that after initial delays from the Bureau of India Standards, the company has received approval for four models.
Honor has already launched Honor X9c, followed by Honor X7c this month.
The company is now gearing up to launch Honor V3, and Honor Magic 7 Pro.
"Once our local manufacturing starts, we will launch all global models in India in line with international timelines," Khandelwal said.
PSAV had set a target to start production in 2024, but missed the timeline because of external factors.
"Last year, BIS clearances were delayed by the government, and there were also management changes at Honor headquarters. These developments delayed our manufacturing plans for India," Khandelwal said.
