As well as making smartphones under the Huawei brand, Huawei also makes devices under the Honor brand and now the company has announced that it is selling its Honor smartphone business.
Huawei is selling its Honor smartphone business Shenzhen Zhixin New Information Technology Limited, you can see a translated statement from the company below.
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. decided to sell the entire Honor business assets, and the purchaser is Shenzhen Zhixin New Information Technology Limited company. As for the glory after the delivery, Huawei does not own any shares, nor does it participate in management and decision-making. (Translated)
Huawei has not revealed how much its Honor smartphone business has been sold for, you can find out more information over at their website at the link below.