Honor Device Pledges $10 Billion for AI in Bid to Be More Than a Phone Maker
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Honor Device Co., one of China’s biggest smartphone makers, plans to invest $10 billion over the next five years to become a contender in the artificial intelligence race.
The Shenzhen-based company, which got its start as a spinoff from Huawei Technologies Co., announced a new corporate strategy that centers on building a device-centric AI ecosystem at Mobile World Congress. The funds for its investment push will come from the company and its investors, an Honor representative said, without providing further details. Honor’s biggest backers are local government entities and it also has display maker BOE Technology Group Co. and two of China’s mobile carriers among its investors.