News Snapshot:
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 US restrictions on supplying Huawei Technologies Co Ltd force the world’s second-biggest smartphone maker – after South Korea’s Samsung Electronics Co Ltd – 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...
