Pop Mart to launch co-branded Honor smartphone in deeper IP push

by PENG Peng

Chinese collectibles maker Pop Mart will partner with smartphone brand Honor to launch a co-branded handset later this month, as the company accelerates efforts to extend its intellectual property into higher-value consumer products, Caijing reported.

The phone will be part of Honor's 500 series and is scheduled to be unveiled on Jan 19, according to people familiar with the matter cited by Caijing. Honor will also roll out a range of co-branded products alongside the launch.

The device will embed Pop Mart's flagship IP MOLLY into both hardware and software, including industrial design, system themes, boot animations and ringtones, the sources said. Preparations for the collaboration lasted more than six months and go beyond the light-touch branding seen in many past IP tie-ups.

In consumer electronics, IP collaborations typically fall into two categories: cosmetic partnerships that add themed cases or packaging, and deeper customization that integrates IP elements across product design, user interfaces and exclusive features. Pop Mart's earlier electronics partnerships have largely focused on accessories.

In August 2025, Pop Mart's IP ZSIGA partnered with vivo in Southeast Asia on co-branded phone accessories. In August 2024, its IP SKULLPANDA teamed up with Huawei to release a co-branded FreeBuds wireless earphone model.

Honor was founded in 2013 as a youth-focused smartphone brand under Huawei and became independent in November 2020 following a corporate split. The company is currently advancing preparations for an IPO, according to public disclosures.

Pop Mart has built a portfolio of popular characters including LABUBU, MOLLY, SKULLPANDA, DIMOO, THE MONSTERS and Hirono. In the first half of 2025, revenue from its five largest IPs each exceeded 1 billion yuan, while 13 IPs generated more than 100 million yuan apiece, the company has said.

To broaden monetization, Pop Mart established a dedicated IP licensing unit in 2020. In an internal memo issued in April 2025, chairman and CEO WANG Ning said the unit had been elevated to one of the group's 10 core platform departments as part of an organizational overhaul aimed at global expansion.

Recent licensing projects include a SKULLPANDA "CAGE-UNCAGE" exhibition held at Singapore's National Museum in December 2025, Pop Mart's first overseas touring exhibition and its first collaboration with the Singapore Tourism Board and the National Museum of Singapore.

On Feb 9, Pop Mart partnered with Meitu Xiuxiu's Meitu Camera app to roll out licensed visual effects and virtual outfits based on its popular Twinkle Twinkle franchise, as part of efforts to monetize its IP through digital platforms.

Pop Mart has also been linked to a potential film project. In November, market sources said Sony Pictures was exploring a LABUBU movie, though Pop Mart told Jiemian News it had "no comment", noting the project remained at an early development stage.

A report by Morgan Stanley said Pop Mart is transitioning from a period of rapid expansion to more sustainable growth. The bank expects revenue growth from LABUBU to slow by 2026, with future momentum expected to be increasingly driven by non-LABUBU IPs.

Reflecting that shift, Pop Mart has begun bringing in executives with luxury-sector experience. In December 2025, the company said WU Yue, president of LVMH Greater China, had been appointed a non-executive director.