- Honor’s new owner is Shenzhen Zhixin New Information Technology Co., Ltd.
- Huawei will not hold any shares in the new Honor company after the sale
Huawei Technologies Co Ltd is selling its budget brand smartphone unit Honor to a consortium of over 30 agents and dealers as per a joint statement signed by 40 companies involved in the purchase. As per the statement, Huawei will not hold any shares in the new Honor company after the sale. Honor’s new owner is Shenzhen Zhixin New Information Technology Co., Ltd.
No figure for the deal was given
The statement added that the sale represents a “market-driven investment made to save Honor’s industry chain” and the change of ownership will not impact Honor’s development direction. No figure for the deal was given in the statement.
The agreement also stated that the acquisition will protect the interests of consumers, channels, suppliers, partners, and employees. The agreement states that the acquisition will protect the interests of consumers, channels, suppliers, partners, and employees. Changes in ownership will not affect the direction of Honor’s development, and Honor’s senior management will remain on board. Honor’s products also rely heavily on Huawei’s technology. It was affected by the US sanctions imposed on Huawei.
