Huawei has sold all business assets related to its entry-level smartphone maker Honor to a consortium of agents and retailers, the company and buying group said Tuesday.
The deal follows the “persistent unavailability of technical elements needed for smartphone business” and “tremendous pressure on (its) consumer business”, the Shenzhen-based smartphone giant said.
The move comes after U.S. sanctions effectively throttled the smartphone vendor’s access to chipsets which it is incapable of manufacturing but needed for smartphone production.
The political risk of Honor being targeted by U.S. restrictions after separating from Huawei is still an uncertainty, according to research institute IDC analyst Will Wong.
Read the full story on Caixin Global.
Contact editor Heather Mowbray (heathermowbray@caixin.com)
Related:
Qualcomm Joins List of Firms Approved to Sell Older Chips to Huawei
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