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Huawei booth at China International Trade in Services Expo 2020
Chinese giant Huawei Technologies announced today, 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 dealers, confirmed in a statement that the purchase will be made through a new company named “Shenzhen Qichen New Information Technology”, announcing the purchase of “Honor”.
He stressed that “Huawei will not keep any shares in the new Honor company after the sale.”
“Huawei” issued a statement saying “its consumer activities are under enormous pressure due to a continuing shortage of technical elements” in its unit, Honor for phones, without announcing figures related to the agreement .
Huawei has denied the relationship of US sanctions with the deal, while Reuters said the deal was reached after US government sanctions hampered the supply of the Chinese company, under the pretext of its security threat. American national.
Reuters also reported that informed sources indicated 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 activities targeting companies “.
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 headset distributor and the Shenzhen government.”
Source: “Reuters”
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