What you need to know
- As per a report from Reuters, Huawei plans to sell its Honor smartphone unit to a consortium led by Digital China in a $15.2 billion deal.
- The deal is expected to be announced as soon as Sunday.
- Honor reportedly plans to retain most of its 7,000-plus workforce after the sale.
Huawei has decided to sell its Honor smartphone unit to a consortium led by Digital China and the Shenzhen government, according to a new report from Reuters. Per the report, the consortium will be paying Huawei 100 billion yuan ($15.2 billion) for the Honor brand. The deal is likely to be formally announced as soon as Sunday.
The sale will include not just the Honor brand, but also its R&D capabilities and supply chain management. Digital China, which is the main distributor for Honor, will have a near-15% stake in the company after the deal is completed. Digital China has also been working with Huawei in other businesses, such as cloud computing.
According to people familiar with the matter, Honor will retain most of its 7,000-plus workforce and management team after the sale. It also plans to go public within three years.
Huawei had launched the Honor brand in 2013 with an aim to take on Chinese rivals such as Xiaomi, OPPO, and Vivo in the competitive budget smartphone segment. Due to the recent U.S. sanctions, however, the company has been forced to change its strategy and shift its focus to the high-end segment. According to estimates from Canalys, Honor smartphones made up 26% of the 51.7 million devices Huawei shipped globally in the third quarter of the year.
Huawei's flagship P40 Pro 5G may not have Google apps, but it is still among the best Android phones when it comes to camera prowess. It uses the largest camera sensor currently available on a smartphone and also offers 10x hybrid zoom.
We may earn a commission for purchases using our links. Learn more.
Every game with touch controls on Xbox Game Pass (xCloud) for Android
Microsoft is offering over 150 games through cloud streaming with Xbox Game Pass Ultimate. While all can be played with controllers, only a handful right now support touch controls.
Razer Hammerhead True Wireless Pro review: Happy, happy earholes
Razer's new Hammerhead True Wireless earbuds deliver great sound for every environment, with very few compromises.
Review: Outcasters isn't a killer-app for Stadia, but it's still pretty fun
Outcasters just released on Google Stadia and is included at no extra-charge for all Pro subscribers. It's not a must-play title by any means, but it still offers plenty of fun with its inventive twist on twin-stick shooting.
The best Honor phones available right now
Huawei's ongoing trade ban has affected its Honor sub-brand as well, with the manufacturer launching fewer devices than usual last year. That said, we got to see a few standout phones in the likes of the Honor 9X and 20 series.