Huawei Technologies sold its Honour smartphone business to a Chinese government-backed consortium for an undisclosed amount, hiving off the entry-level devices arm after the Trump administration cut off its access to US technology.
The consortium was formed by the Shenzhen Smart City Technology Development Group and more than 30 of Honor’s partners, agents and dealers, from private giants such as Suning.com to government-affiliated entities such as a branch of China Postal and Telecommunications. Huawei will no longer hold any shares in Honour after the transaction...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.