George Zhao, CEO of Chinese consumer electronics company Honor, smiles as he shows off the new Honor Magic 6 Pro phones during a presentation on the eve of the Mobile World Congress (MWC), the largest annual gathering of the telecommunications industry, in Barcelona on February 25, 2024.
Paw Parina | AFP | Getty Images
Chinese smartphone company Honor said on Friday that George Zhao, CEO of the Chinese smartphone company, has resigned from his position for personal reasons.
“The company and the Board of Directors greatly appreciate Mr. Chow’s outstanding contributions to the company during his tenure,” Honor said in a statement.
Jian Li, who has worked at Honor for four years in various senior management positions, will succeed Zhao as CEO.
In an internal memo published by Chinese media and confirmed to be accurate by an Honor spokesperson, Zhao said he resigned for health reasons and plans to rest, recover and spend more time with his family.
Zhao described the decision to leave Honor as the “hardest decision” he has ever made.
Honor was spun off from Chinese telecom giant Huawei in 2020 in an attempt to avoid US sanctions that have crippled Huawei's smartphone business.
Under Zhao's leadership, the honor was honored Smartphones that launched strongly Focusing on international markets. Zhao focused on high-end devices, incl Foldable smartphonesHe was looking for Honor to look beyond China and challenge the likes of Samsung and Apple.
Honor's market share in China rose from 9.8% in 2020 to more than 15% in 2024, according to Counterpoint Research. Outside China, Honor's market share was 2.3% in 2024, compared to less than 1% in 2020.
The company looks forward to keeping pace with its competitors through… Launching artificial intelligence Features on his device.
Neil Shah, partner at Counterpoint Research, said the company's focus on cutting-edge devices and technology is likely to continue under new leadership.
“Honor must continue to focus on differentiation if the brand wants to continue building its brand equity and point of differentiation versus existing competitors, especially in premium markets like Europe,” Shah told CNBC.
“A focus on innovative foldable designs, advanced AI features and close partnerships with leading component suppliers will be key.”
Zhao's successor will be tasked with trying to expand Honor's presence abroad amid fierce competition, with a focus on making the brand more recognizable.
“A lot of people don't know about honor” outside China, said Counterpoint's Shah. “Building brand value is difficult and a company needs more time, money and points of differentiation.”
