Huawei is reportedly selling its Honor smartphone unit

Huawei is reportedly selling its Honor smartphone unit. 

Sources told Reuters that Huawei plans to sell Honor in a $15.2 billion deal to handset distributor Digital China and the Shenzhen government. The all-cash sale is expected to include almost all assets such as brand, research and development, and supply chain management. The announcement could be made as early as Sunday. 

Honor plans to keep most of the management team and 7,000-strong workforce. It also has plans to go public within the next three years. The selling of the Honor smartphone unit means that it will no longer be restricted by U.S trade sanctions. 

Source: Reuters

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