Huawei has announced that it will be selling its Honor smartphone business, which focused on mid-range and value-orientated smartphones for younger consumers.
Huawei admitted that the decision was made by Honor to “ensure its own survival”.
Honor tends to rely on much of Huawei’s technology, and so it was hit by the same sanctions that has plagued Huawei for the past few years. Under new ownership, however, Honor would be free to once again work with the likes of Qualcomm and Google.
Huawei says it will be a proper sale, and it will no longer “hold any shares or be involved in any business management or decision-making in the new Honor company’.
The terms of the deal aren’t mentioned in the announcement, but it is thought that Huawei could expect more than US$15.2 billion for the smartphone maker.
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