SPARROWS NEWS
  • Home
  • Latest News
  • Videos
  • Category
  • Contact Us
  • Author
No Result
View All Result
SPARROWS NEWS
No Result
View All Result

Huawei sells Honor to Support Consumers, Channels, Suppliers, Partners, And Employees

by Kamlesh Bhati
November 17, 2020
Huawei sells Honor, sell of Honor
0
SHARES
Twitter

Huawei sells Honor

According to AnTuTu, today (November 17) morning news, several companies in the Shenzhen Special Zone Newspaper released a joint statement, ‘Shenzhen Zhixin New Information Technology Co. Ltd.’ has signed a purchase agreement with Huawei Investment Holdings Ltd. to complete the full acquisition of the Honor brand-related business assets.

RELATED POSTS

Red Magic Watch Debuts with 5 Eye-catching Colors and Unique Soccer Mode

Red Magic 6 and Red Magic 6 Pro: Talk about Industrial Top-end Tech, Price, and Specifications

Redmi Note 10 Series Debuts in India: Check-out Price and Specifications

After the sale, Huawei no longer holds any shares in the new Honor. The statement points out that this acquisition is not only a self-help and market-oriented investment initiated by the related industry chain of Honor, but also a complementary industry, in which all shareholders will fully support the new Honor, allowing the new Honor to draw advantages from all parties in terms of resources, brand, production, channels, and services, and participate in market competition more efficiently.

Huawei sells Honor, sell of Honor
Huawei sells Honor

Enterprise search shows that Shenzhen Jixin was established on September 27, 2020, with a registered capital of 100 million yuan. Among them, Shenzhen Smart City Technology Development Group, a wholly-owned subsidiary of the Shenzhen State-owned Assets Supervision and Administration Commission (SASAC), holds a 98.6 percent stake, while Shenzhen State-owned Synergistic Development Private Equity Partnership holds a 1.4 percent stake.

The statement also said that the change in ownership will not affect the direction of Honor’s development and that Honor’s top management and team will remain stable. The dealers and agents who invested in the new Honor also promised that they would only enjoy a financial return on their investment in the future, and would follow the market principle of fair trade on the business side and enjoy the same opportunities as other dealers and agents.

ADVERTISEMENT

Huawei responds to the sale of Honor

Following the news, now Huawei officials have given a response. The statement said that Huawei’s overall sale of the Honor business assets. For the delivery of the Honor, Huawei does not hold any shares, nor participate in business management and decision-making.

Huawei said, in the industry technology factors unsustainable access, consumer business is under tremendous pressure in a difficult moment, to let Honor channels and suppliers can continue, Huawei Investment Holdings Limited decided to sell the overall Honor business assets, the acquirer is Shenzhen Zhixin New Information Technology Co. Ltd.

Huawei responded to the sale of H: industry chain self-help, blessing the new Honor following the full text of the statement. (Translated)

At a difficult time when industry technology elements are unsustainably available and consumer business is under tremendous pressure, Huawei Investment Holdings Ltd. decided to sell the entire assets of the Honor business to Shenzhen Zhixin New Information Technology Co. After the delivery of the Honor, Huawei does not hold any shares and does not participate in the management and decision-making.

A total of more than 30 Honor agents, dealers jointly initiated the acquisition, which is also Honor related industry chain initiated a self-help behavior.

Honor brand was born in 2013, always for young people, adhere to the low-end price, seven years to develop into annual shipments of more than 70 million Internet mobile phone brand. Huawei is deeply grateful to Honor’s consumers, channels, suppliers, partners, and employees for their dedication, love, and support!

I wish the post-independence Honor, together with shareholders, partners, and employees, embark on the road to new Honor, continue to create value for consumers, and create a new intelligent world belonging to young people!

Huawei Investment Holdings Co., Ltd.

Honor New Team And Positions

  • According to the source, Wan Biao will serve as the chairman of New Honor, focusing on the supply chain management he is good at, and responsible for the planning of the New Honor product line to ensure the supply of various chips required by the New Honor products.
  • Zhao Ming will be the CEO of New Honor, responsible for the company’s daily operations, focusing on channels.
  • Fang Fei, the former vice president of Huawei’s consumer business product line, will serve as the president of the new Honor product line and will be responsible for the planning of the new Honor product line. Fang Fei was previously responsible for positioning younger product lines, such as Huawei nova, Changxiang, Changwan, and Maimang.
  • Yang Jian, the former head of the retail management department of Huawei’s consumer business in China, will serve as the president of new Honor retail management, responsible for global retail work and some channel management.
  • Other Honor executives and teams will remain unchanged.

Source, Via 1, Via 2, Via 3

Like this:

Like Loading...
Tags: HonorHuawei
TweetShareShare

Related Posts

Sony IMX800 will debut with Huawei P50 Series
Phones

Sony IMX800, A 1-inch Super Bottom CMOS Will Debut With Huawei P50 Series

by Kamlesh Bhati
February 26, 2021
Huawei Mate X2 Repair Cost
Phones

Huawei Mate X2 Repair Cost Officially Quoted: Wallpaper Available Now

by Kamlesh Bhati
February 24, 2021
Huawei Mate X2 Unboxing
Phones

Huawei Mate X2 Official Now: New Technologies, Specifications, Price And Unboxing Video with Trailers

by Kamlesh Bhati
February 22, 2021
Honor Magic X Trademarks
Phones

Honor Magic X Trademarks for Foldable Phone Against Huawei’s Mate X

by Kamlesh Bhati
February 19, 2021
Huawei Mate X2 Design
Phones

Huawei Mate X2 Design: Irregularities Can Redefine The Rules

by Kamlesh Bhati
February 18, 2021
Load More

REVIEWS

Vivo X60 Pro+ Camera Review: The Strength and Weakness 1

Vivo X60 Pro+ Camera Review: The Strength and Weakness

January 23, 2021
iQOO 7 Review

iQOO 7 Review: Not Just Iron Triangle, Improved Every Aspects

January 20, 2021
Xiaomi 11 More Features in Detail: Known, Some Unknown

Xiaomi 11 More Features in Detail: Known, Some Unknown

January 16, 2021
Oppo Reno5 Pro+ Camera Review, Sony IMX766 Review

Sony IMX766 Performance Review on OPPO Reno5 Pro+

January 11, 2021
Xiaomi 11 Design Review

Xiaomi 11 Design Review: Unique, Ultimate, Restrained

December 31, 2020
Oppo Reno5 Pro+ Review

Oppo Reno5 Pro+ Review: The Ultimate Reno

December 25, 2020
In this PlayStation 5 Review You will learn below facts and experience high quality PS5 photos.

Gamer’s PlayStation 5 Review and Many Unknown Fact Revealed

October 5, 2020
Xiaomi 3rd Generation Under-screen Camera Review

Xiaomi 3rd Generation Under-screen Camera Review

August 28, 2020

Trending Now

  • Meizu 18 and 18 Pro Price and Specifications Unveiled along with One More Thing
  • Realme GT Official Now with Snapdragon 888; Realme GT Neo On-the-way
  • Redmi Note 10 Series Debuts in India: Check-out Price and Specifications
  • Redmi Gaming Phone Coming this Month with Dimensity 1200 + E4 Straight Screen
  • Thinnest Selfie Focused Vivo S9 Debuts Along With S9e
  • Oppo Find X3 Pro Dual Main Camera + 10bit Color Engine Leap Forward Reality Effect

Recent Posts

  • Red Magic Watch Debuts with 5 Eye-catching Colors and Unique Soccer Mode
  • Red Magic 6 and Red Magic 6 Pro: Talk about Industrial Top-end Tech, Price, and Specifications
  • Redmi Note 10 Series Debuts in India: Check-out Price and Specifications
  • Code Leaks Mi 11 Pro with 50-Megapixel Camera
  • Realme GT Official Now with Snapdragon 888; Realme GT Neo On-the-way

Subscribe to Newsletter via Email

Enter your email address to subscribe to this Newsletter and receive notifications of new posts by email.

SPARROWS NEWS

Your number one source for all technology and smartphone news. Dedicated to giving you the very best gadget news focus on smartphone, gadgets and technology.

© 2020 SPARROWS NEWS

  • Home
  • Latest News
  • Videos
  • Category
  • Contact Us
  • Author

© 2020 SPARROWS NEWS

Go to mobile version
%d bloggers like this: