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Earlier indications emerged this week that Huawei was considering a possible sale of its subsidiary Honor in a multi-million dollar deal.
This deal has now been officially confirmed by Huawei in a press release. This decision was apparently made for two main reasons and as a result of a single problem.
The problem is already well known to all, the US sanctions on Huawei, causing great upheaval in the success of its various businesses.
As for the reason, following the attack by the United States, the Chinese giant needs to guarantee a large financial reserve to “survive” a little longer.
Huawei “renounces” honor and guarantees its survival
In addition to guaranteeing a multimillion-dollar financial fit, Huawei has also managed to guarantee the survival of its, until now, subsidiary.
Since after this agreement Huawei will no longer participate in Honor, the brand will no longer be affected by the restrictions imposed by the United States.
Everything therefore indicates that from 2021 we will see the first smartphones developed exclusively by Honor and with support for Google applications / services arrive on the market.
In the already formalized activity, there is also the guarantee that the new “owner” of Honor will keep all his employees and management elements, so that the transition is as turbulent as possible.
However, it is possible that this sale still gives a lot to talk about, not only for the approximately € 3.2 billion involved, but also for the conglomerate responsible for the purchase.
One of those involved is the Shenzhen government, which will certainly end up raising several questions about the manufacturer’s proximity to the Chinese government.
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via: GSM Arena
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