Earlier reports have suggested that Huawei could resort to selling its HONOR smartphone business, primarily due to the effects of the US restrictions.
Now, the company has confirmed that it has indeed sold the HONOR smartphone business to Shenzhen Zhixin New Information Technology Co. Ltd., a consortium consisting of more than 30 agents and distributors.
As such, Huawei will no longer hold any share, though the senior management for HONOR will still be part of the organization.
The agreement indicates that the move is will protect the interests of all stakeholders and that it should not affect the brand as far as development is concerned.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
