Honor Set to Launch Affordable Foldable Smartphones in India by 2024: CEO Madhav Sheth Reveals Plans

The company’s CEO, Madhav Sheth earlier in an interview on HTech by BGR mentioned that the firm has plans to launch two foldable smartphones in India by 2024 to achieve expansion. Featuring a new design and priced at under ₹1 lakh, the Magic V2 could be one of the most affordable foldable devices in our market.

The Upcoming Honor Foldable Smartphone

Sheth acknowledged during an interaction with Times Network and Digit that the Magic V2 and Magic V3 are being tested right now and should launch by the end of this year. The Magic V2 is internationally known to be one of the slimmest foldable and will come with an unbeatable price, making it one of the wallet-friendly options in India. In contrast, the more premium Magic V3 is expected to be priced at over ₹1 lakh. This move signifies Honor’s most ambitious attempt to penetrate India’s premium smartphone segment since its return to the market last year.

“The success of the Magic 6 Pro in India has given us the confidence to launch these foldables. We want Indian consumers to experience the Magic V2 before making their first purchase of a foldable phone,” Sheth stated.

This is all part of Honor’s new plan to take on a market that Samsung has been running for the past few years. OnePlus, Vivo, and Google are also picking the foldable niche, but given Honor’s pricing battlefield tactics, it might be harder for these other brands to penetrate the segment as well. One of the things that Honor is looking to make in India beyond foldable Sheth added that the company is scheduling to release more devices in India including the next Honor X9c successor of the already released Honor X9b which is hinted to arrive later this year.

Sheth, however, made a valid point over here that Honor will be responsible as it will not flood the market with rebadged devices like what few of its competitors are doing. Instead, the company will focus on a curated, high-quality portfolio across various price segments. “We are dedicated to providing unique, well-rounded products rather than overwhelming customers with too many variations of the same phone,” he concluded.

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