Huawei Said to Sell $15 Billion Honor Unit to Shenzhen Government, Digital China, Others


Source: refinenews.com refinenews.com

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Huawei plans to sell budget-brand smartphone unit Honor in a CNY 100 billion (roughly Rs. 1,12,100 crores) deal to a consortium led by handset distributor Digital China and the government of its home town of Shenzhen, people with knowledge of the matter told Reuters. The plan comes as US restrictions on supplying Huawei force the world’s second-biggest smartphone maker, after South Korea’s Samsung , to focus on high-end handsets and corporate-oriented business, the people said. It also indicates little expectation for any swift change in the US perception of Huawei as a security risk following a change in US administration,...