Huawei sells off its Huawei Honor brand to avoid bankruptcy - MellonPost
November 26, 2020

Huawei sells off its Huawei Honor brand to avoid bankruptcy

Huawei

The popular Chinese smartphone maker Huawei has recently taken a drastic action to save the company.

The US President Donald Trump has consistently attacked the company, saying that it posed a security threat to the United state because it is answerable to the chinese government.

Trump has thus ordered the US makers of critical electronic chips that Huawei needs to make it phones to stop selling products to Huawei.

It is in this regards that the company is finding it difficult to maintain production and logistics of it Huawei Honor brand and has thus has decided to sell off the brand to some other buyers.

The deal which saw the Huawei Honor Smartphone brand been acquired was closed by a consortium of more than 30 Chinese agents on Tuesday.

Huawei and the group of buyers said they struck the deal to help save Honor’s supply chain and protect the consumers and sellers.

Analysts have noted that the selling of a part of the company (Honor brand) will free up more resources for the Shenzhen Company to focus more on its other flagship products.