Buzz
According to exclusive sources from Reuters, Huawei is currently in negotiations with Digital China Group Co Ltd and several other potential partners to sell a portion of their mid-range and budget smartphone manufacturing division, Honor. According to these sources, the deal could reach up to $3.7 billion. Amidst challenges from US sanctions, Huawei is reshuffling its priorities, focusing on its premium smartphone brand, Huawei, rather than continuing to nurture the Honor brand, targeting younger or budget-conscious users.Two individuals providing information to Reuters stated that the negotiation process is ongoing, but the Huawei asset sale will likely include the Honor brand, product research and development facilities, as well as supply chain management systems. Huawei may demand a cash-only transaction, valued between 15 to 25 billion Chinese Yuan. Currently, Digital China, the primary distributor of Honor smartphones, is the frontrunner, but other prominent conglomerates such as TCL and Xiaomi are also contenders.
