REUTERS/Nacho Doce/File Photo Acquire Licensing RightsBENGALURU, Aug 21 (Reuters) - Chinese smartphone brand Honor will relaunch in India through a licensing deal with a local company and is aiming to start domestic manufacturing by early next year, its country head told Reuters. Honor had stopped selling its smartphones in India and reportedly retreated last year amid limited marketing budget and less prudent portfolio management. It will launch three variants of Honor phones in India, with the mid-ranged Number series expected by September. The company, wholly owned by local shareholders, will make, sell and service Honor-branded smartphones in India. Honor Tech aims to capture a 5% share of India's smartphone market by sales volumes in 2024, with a revenue of at least 100 billion rupees ($1.20 billion), Sheth said.

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Persons: Magic, Nacho, Neil Shah, Madhav Sheth, Realme, Sheth, Indranil Sarkar, Dhanya Skariachan, Dhanya Ann Thoppil Organizations: Congress, REUTERS, Rights, Reuters, Huawei Technologies, Counterpoint Research, Tech, Samsung Electronics, Vivo, Thomson Locations: Barcelona, Spain, India, Bengaluru