The companies, agents, and distributors jointly announced the completion of the acquisition of the Huawei Honor brand

There have been rumors in the market that Huawei will sell the Honor brand. For Huawei, it may no longer be able to maintain the shipment volume of the Honor brand due to the lack of chips.

This situation is also a fatal blow to Huawei Honor’s agents and distributors. In order to continue the glory, Huawei decided to sell it to dealers and agents.

The buyers of this transaction included more than 30 Honor agents and distributors, who jointly funded the establishment of a new company, Shenzhen Zhixin New Information Technology with the distributors.

Huawei's non-5G business

“Huawei Honor S6” by Janitors is licensed under CC BY 2.0

This transaction is an overall sale. After the transaction is completed, Huawei will no longer hold any shares of the Honor brand, and the new controlling shareholder will maintain the stability of the original team of Honor.

In the statement, the controlling shareholder also stated that the change of ownership will not affect the direction of Honor’s development, and the senior management of the Honor team and the entire team will remain stable.

The dealers who invest in New Glory also promise to only enjoy a financial return on investment in the future and follow the principle of the fair market to enjoy the same opportunities as other dealers.

Via: channelnewsasia