Chinese smartphone maker Honor, a Huawei spinoff, released new model “Magic 5” in China on Tuesday, priced from 3,999 yuan (US$80) to 6,699 yuan. It will hit the market on March 10.

Magic 5 is mounted with an Honor in-house chip and a 24-hour strong battery.

Three years ago, Huawei sold Honor to a consortium of over 30 agents and dealers in the face of a US chip ban.?

Honor CEO ZHAO Ming said though Honor was a lot like Huawei at first, it is now ready to compete with Huawei and Apple.?

Smartphone business is at a ten-year low, but Honor is planning to open more brick-and-mortar stores this year and expand overseas.?

The Magic 5 was released during MWC Barcelona in February. Priced at 899 euros (US$960, 6700 yuan), Honor is not hiding its ambition to challenge Apple in the high-end market.