Huawei Honor Smartphone: Chinese tech enterprise Huawei has decided to sell its spending budget smartphone brand Honor. The move is an try to save the smartphone brand following it was broken due to the sanctions imposed on Huawei by the US. Huawei announced the move on Tuesday, and to revive the smartphone company, it will separate Honor from the network gear and other enterprises run by Huawei.
According to the US, Huawei-run network gear and some of its enterprises pose a threat to safety, and although the Chinese enterprise has denied the accusations, it appears that it has decided to not danger Honor. The US has placed Huawei beneath sanctions which block the enterprise from accessing most of the processor chips in the US as properly as other technologies.
Without shedding any light on the economic specifics, the Chinese tech giant mentioned that after the sale is completed, it would not have any stake in the Honor smartphone brand. However, it would nonetheless retain its flagship Huawei smartphones.
Honor would be bought by a government of Shenzhen-owned tech enterprise’s enterprise. Shenzhen is exactly where Huawei is headquartered. Rumour has it that the sale price tag of Honor could be as higher as one hundred billion Chinese Yuan, which is about 1.13 lakh crore Rupees.
In a statement, Huawei mentioned that Honor’s market chain has taken the selection to make sure that it survives.
Last year, Huawei was caught in between US-China tensions and was placed beneath sanctions due to its visibility as the initially international tech brand from the Asian nation. The sanctions had been strengthened this year. The two nations have been at odds for lengthy, and the most current feud is primarily based on the US’ suspicion of China applying technologies to spy and threaten the safety with the assist of China-primarily based firms.
The US officials have claimed that Huawei could assist China in spying, even as the enterprise denied the allegations. Meanwhile, it also sees the technological improvement supported by the Chinese government as a threat to the industrial dominance by the US.
Security complaints of the US against Huawei are primarily based on the company’s switching gear for phones and net firms, and the part the gear plays in subsequent-generation technologies in the telecom market.