Huawei confirms sale of Honor – Here’s what it means for both the brands Honor brand

Following months of impositions and bans, Huawei is officially letting go of the Honor brand to subvert the trade sanctions and let it resume operations sans the prohibitions. The announcement confirming the sale came this morning. The first reports of this split came earlier this month from China, stating that the global leader in smartphone shipments might actually go ahead with the move.

The announcement came in the form of a statement from Huawei, which shared further details of the deal. The new owner will be Shenzhen Zhixin New Information Technology Co., Ltd., and will acquire all the business assets. Honor’s employees and management will be retained. Huawei will no longer own any shares in the brand and will not participate in the management or decision-making. This could imply that Honor will now have to design smartphones from the ground up without the help or technology of its former parent.