Prime Highlights:
Honor’s CEO, George Zhao, stepped down due to personal reasons, citing health concerns and a desire to spend more time with his family.
Jian Li, who has been with Honor for four years in senior management roles, will succeed Zhao as CEO.
Zhao led Honor through significant international expansion, growing the brand’s market share in China from 9.8% in 2020 to over 15% in 2024, and increasing its global market share to 2.3%.
Key Background:
George Zhao, the Chief Executive Officer (CEO) of Chinese smartphone brand Honor, has stepped down from his role for personal reasons, the company confirmed on Friday, January 17. Zhao’s resignation marks the end of a transformative period for the brand, which has significantly expanded its presence in international markets under his leadership.
Honor expressed gratitude for Zhao’s leadership, acknowledging his outstanding contributions to the company during his tenure. In an internal memo, which was later confirmed by an Honor spokesperson, Zhao stated that his decision to resign was driven by health concerns. He shared that he intended to focus on recovery and spend more time with his family. Zhao described his departure as the “most difficult decision” he had ever made.
Zhao’s successor, Jian Li, is set to take over as CEO. Li has been with Honor for four years, serving in various senior management roles, and is well-positioned to continue the company’s strategic direction. Under Zhao’s guidance, Honor became a significant player in the global smartphone market, particularly focusing on high-end devices such as foldable smartphones and incorporating advanced artificial intelligence features. Honor’s market share in China grew substantially, rising from 9.8% in 2020 to over 15% in 2024. The brand also made significant strides internationally, increasing its market share outside China from under 1% in 2020 to 2.3% in 2024, according to Counterpoint Research.
The timing of Zhao’s resignation is notable, as Honor is in the process of preparing for an initial public offering (IPO), first announced in 2023. Zhao’s departure also comes as the company faces intense competition in the global smartphone market, particularly from established players like Samsung and Apple. Neil Shah, a partner at Counterpoint Research, suggested that Honor’s continued focus on premium devices, foldable designs, and advanced AI capabilities will be essential for maintaining its competitive edge, especially in markets like Europe. Jian Li’s primary challenge will be to expand Honor’s recognition in international markets, where the brand remains relatively unknown. Building brand equity and differentiation will require strategic investments and innovation, as noted by industry experts.