Huawei to sell $15 billion Honor unit to Shenzhen government, Digital China, others


Source: nepalesevoice.com nepalesevoice.com

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(Reuters) – Huawei plans to sell budget-brand smartphone unit Honor in a 100 billion yuan ($15.2 billion) 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 U.S. restrictions on supplying Huawei Technologies Co Ltd force the world’s second-biggest smartphone maker – after South Korea’s Samsung Electronics Co Ltd 005930.KS – to focus on high-end handsets and corporate-oriented business, the people said. It also indicates little expectation for any swift change in the U.S. perception of Huawei as a...