{"id":1162,"date":"2020-11-17T08:23:33","date_gmt":"2020-11-17T08:23:33","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1328261"},"modified":"2020-11-17T08:23:33","modified_gmt":"2020-11-17T08:23:33","slug":"huawei-sells-off-honor-under-tremendous-pressure-from-us-sanctions","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1162","title":{"rendered":"Huawei sells off Honor under \u2018tremendous pressure\u2019 from US sanctions"},"content":{"rendered":"\n
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The strict sanctions the US imposed on Huawei have finally taken a victim: Honor.<\/p>\n

In an announcement<\/a>, Huawei revealed it has finalized the sale off its Honor mobile sub-brand to Shenzhen Zhixin New Information Technology, a consortium of 30 agents and dealers led by the government of Shenzhen.<\/span><\/p>\n

\u201cHuawei\u2018s consumer business has been under tremendous pressure as of late. This has been due to a persistent unavailability of technical elements needed for our mobile phone business,\u201d the company said. \u201cHuawei [\u2026] has thus decided to sell all of its Honor business assets.\u201d<\/span><\/p>\n

\u201cOnce the sale is complete, Huawei will not hold any shares or be involved in any business management or decision-making activities in the new Honor company,\u201d the statement further reads. \u201cThis move has been made by Honor\u2018s industry chain to ensure its own survival.\u201d<\/p>\n

The value of the deal hasn\u2019t been disclosed but last week Reuters reported it could be worth over $15 billion<\/a>. In its statement, Huawei added that Honor ships approximately 70 million units each year.<\/p>\n

Huawei has had a progressively deteriorating relationship with the US which took a turn for the worse earlier in 2020, when the Department of Justice brought 16 charges<\/a> against the China-based company, including its \u201calleged long-running practice of using fraud and deception to misappropriate sophisticated technology from US counterparts.\u201d<\/span><\/p>\n

The US further imposed sanctions on Huawei which barred it from using fundamental Android experiences like Gmail, YouTube, Drive, and even the Play Store. It also pressured Taiwanese chip manufacturer TSMC into ending its relationship with Huawei.<\/p>\n

\u201cWe hope this new Honor company will embark on a new road of honor with its shareholders, partners, and employees,\u201d Huawei said in the buyout announcement. \u201cWe look forward to seeing Honor continue to create value for consumers and build a new intelligent world for young people.\u201d<\/p>\n

For more gear, gadget, and hardware news and reviews, follow Plugged on Twitter<\/a> and Flipboard<\/a>. <\/i><\/p>\n

Published November 17, 2020 \u2014 08:23 UTC <\/p>\n<\/p><\/div>\n

\"Mix\"<\/a> <\/p>\n
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Mix<\/a><\/h5>\n

November 17, 2020 \u2014 08:23 UTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The strict sanctions the US imposed on Huawei have finally taken a victim: Honor. In an announcement, Huawei revealed it has finalized the sale off its Honor mobile sub-brand to Shenzhen Zhixin New…<\/p>\n","protected":false},"author":1,"featured_media":1163,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1162"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1162"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/1163"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}