Reuters: Huawei Sells Honor to Consortium of Companies Led by Digital China for $ 15B

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In early October, we wrote that Huawei is considering selling the Honor division, and now the network has details about the deal.

What is known

According to the report by Reuters, Huawei sells Honor to a consortium of companies led by Digital China Group and the Chinese city government Shenzhen. The deal is rumored to be worth 100 billion yuan. This is approximately $ 15.2 billion.

By the way, Digital China is a long-time partner of Huawei and, moreover, the largest distributor Honor devices. At one time he founded the company Legend Holdings, which in 2001 was renamed Lenovo. At the same time Digital China spun off from Lenovo and became independent.

Selling Honor will help Huawei recover some of the costs. In addition, such a decision will allow the brand to continue to exist on the market without falling under US sanctions.

Source: Reuters

Photo: 9to5Google

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