Huawei has sold off its Honor brand to Shenzhen Zhixin New Information Technology Co. as a move to ensure its own survival following the US sanctions bringing persistent unavailability of technical elements for its mobile phone business.
Huawei selling off the entire Honor’s business assets means that the company will have no stake in Honor, hence will not associate in any decision making whatsoever.
Founded in 2013, Honor has been attributed to producing cost-effective handsets allowing Huawei to go in for online mid-range smartphone makers in China and across the globe. It also has other product categories including wearables, TWS earphones, and air purifiers.
As per Huawei, the sub-brand has been shipping more than 70 million units per annum. Yet, we don’t know what the future holds for its smartphones and other product portfolios.
Huawei also said, “We look forward to seeing Honor continue to create value for consumers and build a new intelligent world for young people.”
