AsianFin -- Honor unveiled its next-generation foldable smartphone, the Magic V5, on July 2, marking its first major product launch since shifting its strategy toward an AI-powered device ecosystem company.
Along with the new product with AI features and ecosystem partnerships, fresh details on its upcoming IPO were also revealed.
The Magic V5 introduces seamless cross-device connectivity with HarmonyOS, iOS, and Android, and integrates AI tools for functions like ride-hailing, coding, slide creation, and smart search. As part of its AI ecosystem expansion, Honor also announced support for MCP and A2A protocols, alongside strategic collaborations with Alibaba, BYD, and Midea to enhance the foldable experience across smart homes, mobility, and retail.
At just 8.8mm thick and weighing 217 grams, the Magic V5 claims the title of the world’s thinnest and lightest foldable phone—pushing industry boundaries on hardware innovation. “We welcome the opportunity to compete with Apple on the same stage,” said Fang Fei, President of Honor’s Product Line. “Their entry is a source of motivation for the industry.”
Apple’s debut in the foldable segment appears imminent. According to TF International Securities analyst Ming-Chi Kuo, Foxconn is expected to begin production of the first foldable iPhone by late Q3 or early Q4 2025, with full-scale mass production in the second half of 2026. Samsung is reportedly set to supply up to 8 million foldable displays for the first model, although some core components, such as the hinge design, remain unfinalized.
While China’s foldable phone market saw its first year-on-year contraction in Q4 2024—with shipments down 9.6% to 2.5 million units, per IDC—analysts believe Apple’s entry could reignite consumer interest and accelerate mass adoption globally.
Honor, meanwhile, is moving ahead with plans for a domestic IPO. CFO Peng Qiuwen confirmed that the company has completed the first stage of a six-step listing process and has entered the second, which includes filing guidance acceptance. The minimum guidance period is three months, and the company is currently refining internal governance and compliance standards with assistance from lead underwriter CITIC Securities.
According to filings with the Shenzhen Securities Regulatory Bureau, Honor’s IPO guidance will run through March 2026 and is split into three phases. By the end of 2024, Honor had 23 institutional shareholders, spanning phone supply chain partners, state-backed firms, telecom operators, and distributors. The company’s registered capital currently stands at 32.24 billion yuan ($4.4 billion), with its largest shareholder, Shenzhen Zhixin New Information Technology Co., owning a 49.55% stake.
As competition intensifies in both the foldable hardware and AI ecosystems, Honor’s dual strategy of innovation and capital market expansion positions it as one of China’s most closely watched tech players.
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