Huawei confirms sale of Honor - Here’s what it means for both the brands

Huawei confirms sale of Honor – Here’s what it means for both the brands

Following months of impositions and bans, Huawei is formally letting go of the Honor model to subvert the commerce sanctions and let it resume operations sans the prohibitions. The announcement confirming the sale got here this morning. The first studies of this cut up got here earlier this month from China, stating that the world chief in smartphone shipments would possibly truly go forward with the transfer.

The announcement got here in the kind of a press release from Huawei, which shared additional particulars of the deal. The new proprietor can be Shenzhen Zhixin New Information Technology Co., Ltd., and can purchase all the enterprise belongings. Honor’s staff and administration can be retained. Huawei will now not personal any shares in the model and won’t take part in the administration or resolution-making. This may indicate that Honor will now must design smartphones from the floor up with out the assist or expertise of its former father or mother.

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