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A measure aims to revive Honor, separating it from the network equipment of Huawei, a company that Washington accuses of being in the service of Chinese espionage, accuses the Huawei care.
The group is subject to sanctions that block access to American technology, including components and programs essential to the production and operation of mobile phone, including chips, semiconductors, or Google services.
The announcement of Huawei Technologies Ltd. does not include financial details, but said the company will no longer have a stake in Honor once the deal is concluded.
A Huawei will keep its brand of mobile phone main, with the same name as the group.
The buyer is a jointly incorporated company of a technology company that belongs to the city government of Shenzhen, in the south of the country, where Huawei has headquarters and a group of Honor resellers.
Earlier reports of a possible sale put the company’s value at 100 billion yuan (€ 12.6 billion).
“The change was made to ensure survival,” he told Honor in a statement Huawei.
The Chinese group is China’s first global tech brand, but it is at the center of tensions between Beijing and Washington over technology, security and espionage.
Donald Trump’s government has lobbied allies, including Portugal, to rule out the Huawei and other providers of their telecommunications networks.
Honor, founded in 2013, is one of the brands of mobile phone best selling books in the world.
Total device shipments Huawei and Honor fell 5%, from the previous year, in the quarter ended June, for 55.8 million units, according to the consultant Canalys.
Sales in China rose 8%, but overseas sales fell 27%. Sales of mobile phone from Huawei outside China suffered as the company was prevented from pre-installing Google services due to US sanctions.
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