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Huawei announced on November 17 that it will sell all its business assets for its sub-brand Honor to Shenzhen Zhixin New Information Technology. Details such as the sale amount were not disclosed. This sale is expected to help honor agencies or suppliers facing difficulties due to US sanctions over this period.
According to reports, Shenzhen’s New Information Technology, which is the target of sale, was established with the participation of more than 30 agencies and stores, centered on the Shenzhen Smart City Technology Development Group, operated by the Shenzhen city authorities for the purpose of infrastructure development. It is a startup. Huawei does not hold shares of this new company, it is said that it is not involved in management and decision making.
Honor is a Huawei sub-brand established in 2013 and is aimed at targeting the youth and middle class. It has grown into a brand that has shipped more than 70 million units a year for 7 years. According to the announcement, Honor was sold to survive, and Huawei will not be involved in any future, and accordingly, Honor will be operated independently with other Chinese companies such as Oppo and Xiaomi. It is not clear whether the US sanctions will be resolved with this sale, but maybe an honor terminal that can use Google services will reappear. Related information can be found here .
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