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Huawei Booth at China International Trade in Services Fair 2020
Chinese giant Huawei Technologies announced Tuesday that it will sell its low-cost smartphone unit, Honor, to a consortium in an effort to maintain continuity.
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The consortium, which includes more than 30 agents and distributors, confirmed in a statement that the purchase will be carried out through a new company called “Shenzhen Qichen New Information Technology”, announcing the purchase of the “Honor” unit.
He noted that “Huawei will not retain shares of the new Honor company after the sale.”
“Huawei” issued a statement saying that “its consumer activities are under tremendous pressure due to the continuing shortage of technical items” at its unit, Honor for phones, without announcing numbers related to the deal.
Huawei denied the relationship of US sanctions with this agreement, while Reuters indicated that this agreement was concluded after sanctions imposed by the US government prevented the supply to the Chinese company, under the pretext of your threat to US national security
“Reuters” also reported that informed sources stated that “US government restrictions have forced the world’s second largest smartphone maker, after South Korea’s Samsung Electronics, to focus on advanced headsets and business-oriented activities.”
One of the sources told “Reuters”: “The US government will have no reason to impose sanctions on Honor after its separation from Huawei.”
Reuters reported earlier this month, “Huawei is in talks to sell Honor for 100 billion yuan ($ 15.2 billion) to a consortium led by Digital China, the headphone distributor and the Shenzhen government.”
Source: “Reuters”
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