Huawei sells Honor to save the company

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Huawei has finally sold the Honor business, the subsidiary brand of the mobile phone manufacturer, pressured by the strict sanctions it faces in the United States. The Chinese company has admitted that, if it did not proceed with the sale of Honor, the brand would finally have been blocked or would have to be closed, given that it did not have access to the necessary elements to continue manufacturing mobile phones, so before assuming that destination They have preferred to get rid of it.

Honor has been sold to a consortium of Chinese companies and manufacturers

Thus, Huawei has confirmed that it has agreed to sell its subsidiary brand to Shenzhen Zhixin New Information Technology, a consortium made up of 30 agencies, companies and manufacturers headed by the Shenzhen government, which from now on will be the owners.

“Once the sale is completed, Huawei will not be left with shares or involved in the decision-making of the new Honor company. This movement has been carried out to ensure the very survival of Honor, “said the Chinese firm in a statement. The company manufactured 70 million devices annually, which were sold around the world.

It is unknown how much money the consortium cited by Honor has paid, although some estimates put the total amount at around 15,000 million dollars. “We hope that the company continues to create value for consumers and contribute to building a smart world for young people,” Huawei said in the statement.

The sale of Honor is but the latest consequence of the deteriorating relationship between Huawei and the United States, a country that accuses the Chinese firm of fraud and appropriating technology from American companies. For this reason, for example, Huawei is prohibited from incorporating Google technology into its mobiles and does not have access to applications such as Gmail or YouTube, not even the Google Play Store app store.

This has led the company to develop its own operating system and application store, although there are users who are reluctant to stop using Google’s and use all kinds of tricks to do so.

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