Huawei Technologies is selling its budget brand
Huawei selling Honor brand to consortium to keep its budget smartphone unit alive
smartphone unit Honor to a consortium of over 30 agents and dealers in a bid to keep it alive, the company and the consortium said on Tuesday.
The deal comes after U.S. government sanctions have restricted supplies to the Chinese company on grounds the firm is a national security threat — which it denies.
The consortium issued a statement on Tuesday announcing the purchase, which will be made via a new company, Shenzhen Zhixin New Information Technology.