Huawei has confirmed the news following the announcement of the Honor smartphone business. The sale comes as US sanctions hurt Huawei.
Honor’s new owner is Shenzhen Zhixin New Information Technology Co., Ltd., and Huawei has finalized the sale. Users Suppliers The agreement agrees to protect the interests of partners and employees. Honor senior executives will continue to work for the new owner.
It was bought by a conglomerate of more than 30 agents and distributors. Huawei no longer has a stake in Honor and is no longer on Honor’s board.
Under the Trump administration, Huawei was accused of endangering national security and barred US companies from working with Huawei. As a result, Huawei and Honor can no longer use US companies’ products. With the departure of Qualcomm’s chip and Google’s software, Huawei’s sales have plummeted in the West in recent years.