Honor's next flagship phone will be the View 30, and will have the Huawei Kirin 990 processor powered. This means that it will be compatible with 5G and will have the same chip as the Huawei Mate 30 and the Mate X folding.

Huawei announced the Kirin 990 at IFA 2019 last week, confirming that it will have a built-in 5G modem. A Chinese report (via GSMArena) quotes Honorary President George Zhao saying that the View 30 (which could be renamed as Vera 30 in some regions)) will use the processor, aligning the sub-brand with the power of its parent company.
This year's Honor View 20 had the Kirin 980 chip that is also found in the Huawei Mate 20 Pro and P30 Pro, but manages to lower the price of the Huawei phone thanks to an LCD screen instead of OLED, cheaper building materials and omitting the fingerprint sensor on the screen. Many, including us, can see the great appeal of a mid-priced device with absolutely superior flagship power. Honor manages to do this by promoting a different audience to Huawei: Honor to a younger audience and price expert, while Huawei can still sell at a higher price to aspirational buyers and enthusiasts of the latest technology.
So, as in 2019, the Huawei phones of 2020 could have more cameras, more striking designs and OLED displays, but the Honor View 30 will lower the price, have the same processing power and could even maintain the headphone jack. But Honor will go into the same problems of US trade ban as Huawei, and the View 30 could be sent without access to Google applications and services.
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