Exclusive: Huawei in talks to divest parts of Honor smartphone business, sources say
and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan , people with knowledge of the matter said.Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.
The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said. The Honor brand was established by Huawei in 2013 but the business mostly operates independently from its parent. It competes with Xiaomi, Oppo and Vivo in China’s highly competitive budget phone market and its phones are also sold in Southeast Asia and Europe.
“If Honor is independent from Huawei, its purchase of components will no longer be subject to the U.S. ban on Huawei. This will help Honor’s smartphone business and the suppliers,” he wrote in a research note last week.
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