Chinese phone manufacturer Huawei is selling its smartphone brand Honor, the company announced in one statement. The sale follows “enormous pressure” from the United States: sanctions from the country prevent Huawei from buying computer chips that are needed for smartphones.
“This choice was made at Honors industry chain to ensure its own survival,” Huawei wrote in the statement.
Honor is being sold to a consortium called Shenzhen Zhixin New Information Technology, which consists of thirty parties. Huawei will not own stock or play any business role in the new standalone company, the company said.
In this way, the new Honor company could bypass the US sanctions, for example by purchasing chips from American chip manufacturers.
Huawei is the largest smartphone manufacturer in the world after the South Korean Samsung.
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