Huawei has had a bumpy time after suffering some hefty trade bans from the United States government. The company’s not quite at the brink of going out of business, but they’re in a position that they need to think about adjusting their future business to stay healthy.
Looks like that might end up with Huawei spinning off its Honor sub-brand.
Huawei set to offload Honor
The details of this deal reportedly include Huawei selling the Honor brand to a Chinese consortium headed by the distributor Digital China and the Shenzhen government, although TCL and Xiaomi are rumored to potentially try and make that purchase, too.
Regardless of who’s going to buy the brand, the deal is supposedly worth about $15.2 billion, which is pretty substantial. It is worth noting that it only includes the smartphone division, and while that doesn’t include the workforce to go along with it, it doesn’t necessarily include other gadgets and devices like smartwatches. No word on if those would just fold back into Huawei or dissolve completely.
That’s a big chunk of change and would go a long way towards offsetting some of Huawei’s declining business around the globe. They’ve fallen off fast and hard since consistently jockeying with Samsung for the world’s biggest Android manufacturer, but that title is now being fought over by some other smaller brands these days.
via: Android Authority