https://techcrunch.com/2020/11/10/huawei-reportedly-set-to-sell-honor-budget-phone-division-for-15b/

Following weeks of rumors surrounding a potential sale, Huawei has reportedly struck a deal to divest itself of its Honor brand. A new report out today from Reuters notes that the embattled hardware maker will sell the budget unit to a consortium of buyers that includes the government of the city of Shenzhen and Digital China, a phone distributor.

The report, which cites “people familiar with the matter,” puts the price tag for the Honor unit at $15.2 billion. Honor’s new owners will reportedly keep much of the brand’s 7,000 employees (management included) in tact, with plans to take the company public in around three years. The Honor brand has largely focused on low-cost devices, with sales in China, Europe and the U.S. This deal would likely find Huawei focusing more exclusively on high-end products under its own brand.