Huawei sells Honor brand to state-backed group

Honor made the decision ‘to ensure its own survival’

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Huawei has sold its sub-brand Honor to Shenzhen Zhixin New Information Technology Co., Ltd., a government-backed consortium.

According to a Huawei’s official statement, the sale “will help Honor’s channel sellers and suppliers make it through this difficult time.” The company said the move was made by Honor’s industry chain to “ensure its own survival.”

Huawei has been under tremendous pressure after the Trump administration cut off the Chinese group’s access to global technology suppliers.

Once the sale is complete, Huawei will no longer hold any shares or be involved in any business management or decision-making activities in the new Honor company.

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