Earlier this month, Huawei determined to promote its Honor sub-brand to a consortium led by Honor distributor Digital China and the Shenzhen authorities in a $15 billion deal. The deal is aimed toward giving the Honor model a brand new lease of life. Huawei founder Ren Zhengfei has now known as on Honor to develop into a competitor after the deal is accomplished (through Reuters).
As per a speech posted on a Huawei worker discussion board, Ren has urged Honor workers to attempt to topple Huawei. After the possession change, Honor will not have to fret concerning the U.S. sanctions on Huawei and may resume sourcing parts which are at the moment restricted.
Ren added that Huawei determined to promote the Honor sub-brand because it didn’t need “hundreds of thousands” of workers at Honor’s brokers and distributors throughout the globe to lose their jobs. Honor, which primarily targets the funds and mid-range smartphone segments, made up 26% of the roughly 51.7 million gadgets Huawei shipped globally within the third quarter of the tear, as per information from Canalys.