Honor brand sold out to a group of third parties – Huawei has announced officially

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Honor 30 Pro+

After having reported several times, Huawei’s baby brand Honor has a new owner now. Noting a difficult time with unsustainable and under-pressure consumer business, Huawei has felt the need of selling out its Honor brand.

The new acquirer of the brand is a consortium of companies named “Shenzhen Zhixin New Information Technology Limited”. The group has signed an agreement with Huawei Investment Holdings Co., Ltd to fully own the brand. Huawei noted that it will allow the brand to continue to create value for consumers independently.

Huawei will not own any shares of the brand, will not be a part of the management and decision-making. According to the agreement, the acquisition of the Honor business assets as a whole will protect the interests of its employees, channels, suppliers, partners, and customers.

At a difficult time when industrial technology elements are unsustainable and consumer business is under great pressure, in order to allow Honor channels and suppliers to continue, Huawei Investment Holding Co., Ltd. has decided to sell Honor business assets as a whole.

The acquirer of the brand, Shenzhen Zhixin New Information Technology Ltd is a group of different companies and businesses. The group has more than 30 agents and distributors as stated in the Huawei’s announcement.

 

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