Huawei, the world's second-largest smartphone maker, is in deep trouble and has decided to sell its most valuable asset. According to India Times, Honor is Huawei's leading smartphone brand which the company has now decided to sell. The company is selling the brand to a consortium. The consortium also includes handset distributor Digital China and the Shenzhen government.
The news agency Reuters quoted sources as saying that the sale of Honor will be done in the form of full cash and in this deal all the assets and business of Honor smartphone brand will be sold. This includes brand, research and development capabilities, supply chain management and more. Digital China Group is Honor's main distributor and also partners with Huawei in many other businesses, including cloud computing. Once the deal is finalized, the group will become one of the two largest shareholders in Honor Terminal Limited.
