China Mobile Buys Stake in Huawei Smartphone-Spinoff Honor

(Bloomberg) — The parent of China Mobile Ltd. has invested in Honor Device Co. Ltd., a big boost for a fast-expanding smartphone brand that was spun out of Huawei Technologies Co. Ltd. just four years ago.

China Mobile Communication Co., the parent of the nation’s leading mobile operator, has invested in the handset company, Honor said in a statement. That marks the start of an alliance with a smartphone brand ranked fourth in China shipments in the June quarter, according to IDC, which gathers global market data.