BEIJING, Aug 23 Reuters Chinese smartphone maker Honor said on Friday it has received an undisclosed amount of investment from China Mobile39;s parent company, as the former Huawei HWT.UL unit gears up towards an initial public offering IPO.

Honor has been receiving an unusually high level of support from southern China39;s Shenzhen government, including funding for research and development and tax breaks, Reuters reported earlier in August.

The handset maker announced last November it was pursuing an IPO, without disclosing a location or a time frame for the listing.

China Mobile39;s investment aims to leverage synergistic advantages in innovation across personal and home device markets, Honor said in a statement.

Honor has always adhered to the principle of open and transparent development and will continue to diversify its shareholding structure, it added.

The collaboration is set to capitalise on Honor39;s product portfolio and China Mobile39;s channel resources and user base, it said.

Through this cooperation, both parties will give full play to their respective advantages and jointly provide consumers with a better and more innovative experience.

Reporting by Ethan Wang, Ella Cao and David Kirton; editing by David Evans

Source Reuters