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Chinese technology manufacturer Huawei made the official announcement: the Honor brand is officially sold! Huawei announced on its global website that it has sold its Honor sub-brand, launched in 2013, to Shenzhen Zhixin New Information Technology Co., Ltd.
In the statement made by the Chinese company, Huawei’s situation and the reason for the sale of Honor were expressed as follows:
“Huawei’s consumer business has been under enormous pressure lately. The reason for this is the difficulty in procuring the necessary items for the mobile phone business. Huawei Investment & Holding Co., Ltd. Therefore, it has decided to sell all of Honor’s business operations to Shenzhen Zhixin New Information Technology Co., Ltd. This sale will help Honor’s channel suppliers and suppliers succeed in this difficult time .
Once the sale is complete, Huawei will not own any interest in the new Honor company or be involved in any business management or decision making activities. This move was made by Honor’s industrial chain to ensure its survival. “
HAS REACHED 70 MILLION SALES PER YEAR
“Since its founding in 2013, the Honor brand has focused on the youth market by offering phones in the lower-middle price range. “Over the past 7 years, Honor has grown to be a smartphone brand with over 70 million sales per year.”
While no official announcement has been made regarding Honor’s selling price from the Huawei and Shenzhen front, an estimated $ 15 billion has been paid for Honor, according to the news released to the public last week.
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