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The rumor had been advancing for several days from various credible sources. Huawei could be negotiating the sale of Honor, its brand of satellites, to free itself of an asset that could be an obstacle to the blockade in the United States.
This information is now confirmed and it is official that the Chinese brand will even change hands. Honor was sold, and is therefore no longer a Huawei company, but is now controlled by other companies.
A sale that was already expected
This now announced sale has been expected for some time. Huawei would be looking for a buyer for Honor, a brand that used much of its technology to develop its smartphones.
From what has been revealed, it will be the new company Shenzen Zhixin New Information Technology that will own the brand and all its assets. This new company is owned by 30 Chinese entities that have come together to make the purchase.
Huawei launches brand for other entities
The most important thing about this agreement is that Huawei no longer has any stake in Honor, thus freeing itself from this asset. The honor passes in part to the Chinese government, as many of the entities involved are associated.
The value of this agreement is not known with certainty, but the data presented recently points to an amount that would be around 15.2 billion dollars. This value will be used by Huawei to reinforce its efforts to create its own ecosystem, without depending on third parties.
Brand developments will continue
The statement states that changes in ownership will not affect the direction of Honor developments. Honor's management and team will remain stable. All developments will remain as before.
It will be interesting to see how Honor will maintain its structure, as it was totally dependent on Huawei. Most of their smartphones and other devices were the same as the mother brand's proposals and even the magical user interface itself is the same as EMUI.
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