Prithi Deb
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Huawei has agreed to sell Honor, a smartphone brand under the Huawei Consumer Business Group, to a consortium of over 30 agents and dealers. The buyers announced they’re setting up a new company called Shenzen Zhixin New Information Technology to complete the purchase.
Once the sale is complete, Huawei will no longer hold any share in the new Honor brand. The deal will include everything from R&D capabilities, supply chain management, and other Honor assets. Honor’s workforce includes over 7,000 employees. After the change of ownership, Honor will continue as usual, with no impact on production expected.
If Huawei seeks to become fully independent from US-based companies, then it’ll need a lot of cash to make that happen. The deal to sell Honor could be the cash infusion that Huawei needs for this effort.
It's official: Huawei has sold its Honor smartphone brand
Once the sale is complete, Huawei will no longer hold any share in the new Honor brand. The deal will include everything from R&D capabilities, supply chain management, and other Honor assets. Honor’s workforce includes over 7,000 employees. After the change of ownership, Honor will continue as usual, with no impact on production expected.
If Huawei seeks to become fully independent from US-based companies, then it’ll need a lot of cash to make that happen. The deal to sell Honor could be the cash infusion that Huawei needs for this effort.
It's official: Huawei has sold its Honor smartphone brand
