The Chinese Smartphone giant have had a pathetic year with facing economic clashes from the US government, who have directly or indirectly crippled them to produce and make smartphones or even continue selling their network equipments in many countries.
Huawei is reportedly in talks to sell parts of its sub-brand Honor division to Digital China Group Co Ltd and other potential bidders as Digitimes reports. As per Reuters, this move is part a part of Huawei’s shift in priorities to its high-end smartphone business only after the U.S. sanctions extended to 2021.
As for now, the evaluation of its sale is not clear, but the deal, however, could amount to as much as 25 billion yuan (about $3.7 billion). Reuter’s report has also said that this sale might even cover Honor’s brand, including their research and development unit and supply chain management businesses.
Also, in addition to Digital China, which distributes the Honor devices, the Chinese electronics firm TCL and smartphone giant Xiaomi could be among the potential buyers. This marks the end of Huawei’s promising run it made with its sub-brand Honor focused on bringing great budget smartphones and other devices.
via Neowin
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