Huawei reportedly agrees billion-dollar sale of Honor smartphone business null

Huawei has reportedly agreed to sale its Honor smartphone subsidiary to a Chinese consortium that includes handset distributor Digital China and firms backed by the local government in Shenzhen.

Speculation last month suggested Huawei was considering a sale of part of Honor in a deal worth up to £2.9 billion, however it is now suggested a deal worth £11.5 billion has been struck to dispense of the entire business.