At the sale of the smartphone subsidiary Honor proceeded officially now η Huawei Technologies.
ΑThis was done in the context of its effort to keep the brand alive and to face the obstacles posed by American restrictions on the further development of the brand..
The buyer as announced is a consortium More than 30 representatives, which to complete the sale will set up a new company called Shenzhen Zhixin New Information Technology.
Although the purchase price was not disclosed, international reports released earlier this month stated that Huawei is already in talks for that sale estimated at 100 billion yuan (15,2 billions of dollars).
Recall that the agreement for the sale of the subsidiary came after the US government sanctions on the Chinese company, which have removed the Android operating system from its phones, on the grounds that the Chinese company is a threat to national security, something that the she has categorically denied.
With the completion of the acquisition, Huawei will not hold shares in the new company and Honor will continue its normal growth plan, as clarified in the statements of both the consortium and Huawei, while in the future it is not excluded to look for more investment partners than those will be included in the consortium.
It should be noted that according to the announcement of Huawei, its consumer business is under "enormous pressure" due to the "persistent refusal to provide technological infrastructure" on its phones. "Through the sale of Honor, its survival is ensured."
Sources close to the company who spoke to Reuters reported that US government restrictions forced the second largest smartphone maker after Samsung Electronics to change the plan and focus on high-tech devices and the technological infrastructure sector. The same sources even estimated that after the sale the US government will no longer have any reason to impose sanctions on Honor, as it will no longer have anything to do with Huawei.
Recall that Honor, from the beginning, was active through online sales from both its own website and third-party websites, competing with other major Chinese manufacturers, such as Xiaomi Corp, Oppo and Vivo, offering devices with advanced features at low and medium prices. According to its results Huawei, shipments to Southeast Asia and Europe reach 70 million units of smartphones annually.
As analysts point out, the sale of Honor "will give Huawei the opportunity to focus on its premium business, and focus on developing its own HarmonyOS smartphone operating system».
In addition the sale «ensures the maintenance and further development of its brand, which already has a good market share, giving Huawei the opportunity, after the problems have subsided and the operating system is sufficiently developed, including a number of applications similar to Google's popular ones, to repurchase the company's share».
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