Post US sanctions, Huawei sells its Honor smartphone brand

After reports of Huawei finalizing a buyer for the Honor smartphone unit, It is now official that Huawei will sell the brand to a consortium of over 30 agents and dealers. The buyers will be setting up a new company called Shenzen Zhixin New Information Technology (SZNIT) to complete the deal.

Huawei will no longer be a part of the Honor brand and the deal will include all the Honor assets. Huawei was finding it tough to keep the brand going as it was facing sanctions from the US, which has placed them on the entity list and has barred many chipmakers from supplying chips to them.

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