HUAWEI has confirmed the sale of their HONOR smartphone brand to Shenzhen Zhixin New Information Technology Co., Ltd. jointly founded by Shenzen Smart City Technology Development Group Co. Ltd. and over 30 agents and dealers of the HONOR Brand, selling all of HONOR’s business assets and its decision-making capabilities. The move is a result of a long battle between HUAWEI and the US government, whose sanctions have been hurting HUAWEI’s business for over a year now.
Continue reading “HUAWEI confirms sale of HONOR smartphone brand”
HUAWEI will sell its HONOR smartphone business to a consortium led by Digital China, a handset distributor and Shenzhen government for about 100 billion yuan ($15.2 billion approx.), according to a new Reuters report. The all-cash sale will include almost all assets including 7,000 staff, R&D capabilities and supply chain management, adds the report. Continue reading “HUAWEI may sell HONOR smartphone business to Shenzhen govt, others for $15 billion”