Huawei is exploring options to sell off its budget smartphone unit Honor, people with knowledge of the matter told Caixin.
The technology giant has been in talks with potential buyers, including distributors and state-backed funds that Huawei used to do business with, according to people in some of the companies.
The plan to sell off the lower-end phone vendor, which was set up in 2013 to compete against the likes of Vivo and Oppo, comes as little surprise after several rounds of U.S. sanctions have effectively throttled Huawei’s chip supplies, industry insiders told Caixin.
“As the brand is under the umbrella of Huawei, it could not avoid the impact,” an IDC analyst said.
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Contact editor Marcus Ryder (marcusryder@caixin.com)
Related: Sweden Suspends 5G Auction After Huawei Wins Court Appeal Against Exclusion
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