Huawei sells Honor subsidiary to Zhixin New Information Technology Co. Ltd

Honor is no longer a subsidiary of the Huawei Consumer Business Group. The consumer electronics company which was founded in 2011 as an online-only brand has now been sold to a new owner called Zhixin New Information Technology Co. Ltd.

The new owner of the Honor brand was born from a consortium of over 30 agents and dealers of the Honor brand and the Shenzhen Smart City Development Group Co. Ltd according to a joint statement released confirming the acquisition.

It has been reported that Shenzhen Smart City Development Group which is a subsidiary of Shenzhen SASAC holds 98.6% of the shares while the Shenzhen state-owned Assets Cooperative Development Private Equity Partnership holds 1.4% of the shares.

Honor sale joint statement

The statement says Zhixin New Information Technology will “acquire all business assets related to the Honor Brand”, and “once the acquisition is complete, Huawei will not hold any shares in the new Honor

Read More

Paterson Charter School for Science and Technology (PCSST) Army JROTC Earns Honor Unit with Distinction

PATERSON, NJ  – The Paterson Charter School for Science and Technology (PCSST) JROTC Lion Battalion announced that it has once again earned the highest unit qualification possible for SY 2020-2021, first awarded during the last school year. The most sought-after unit award is the Honor Unit with Distinction (HUD – Gold Star) rating.  

“Our Lion Battalion Cadets work hard to maintain this unique Honor Unit with Distinction rating from year to year,” said Senior Army Instructor LTC (R) Mike Hodges. “It validates the value of the system to our school and community and further enhances our recommendations for our cadets’ future endeavors.”

The LION Battalion is currently commanded by Cadet LTC Jabria Smith, and her senior enlisted advisor is Cadet CSM Jeremy Chomba. Where effective leadership is critical, this achievement required the cadet battalion to score at least 95% on a rigorous 5-hour inspection conducted by the JROTC Chief from

Read More

Huawei founder urges Honor subbrand to become competitor after split

SHENZHEN, China (Reuters) – Huawei founder Ren Zhengfei called on employees of its departing Honor subbrand to strive to surpass its parent in a farewell speech as the tech giant sells the budget brand to keep its sanction-hobbled supply chains alive.

FILE PHOTO: Ren Zhengfei, Founder and Chief Executive Officer of Huawei Technologies speaks during a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. REUTERS/Denis Balibouse

Huawei Technologies said earlier this month it would sell Honor to a new entity called Shenzhen Zhixin New Information Technology, formed of its agents and dealers, so it could resume sourcing components currently restricted by U.S. sanctions.

The U.S. government says Huawei is a national security threat, a claim the company denies.

“Wave after wave of severe U.S. sanctions against Huawei has led us to finally understand, certain American politicians want to kill us, not just

Read More

Surprise Galaxy S21 Leak, Honor Leaves Huawei, Google Pay’s New Adventure

Taking a look back at seven days of news and headlines across the world of Android, this week’s Android Circuit includes the stunning Galaxy S21 screen leaks, saying goodbye to the Galaxy Note, Google Pay’s new banking play, reviewing the OnePlus Nord N10 5G, Huawei’s route to Qualcomm, Honor gains independence, and a rollable smartphone screen…

Android Circuit is here to remind you of a few of the many things that have happened around Android in the last week (and you can find the weekly Apple news digest here).

Samsung’s All Screen Galaxy S21

As discussions continue about Samsung’s Galaxy S21 arriving one month ahead of schedule in January, more details on the South Korean company’s flagship have leaked. The latest includes a closer look at the display, with almost total coverage.Forbes’ Gordon Kelly:

“Thanks to newly leaked CAD files, we know the front of the Galaxy S21 Ultra will

Read More

Huawei Sells Off Honor Smartphone Business to Ensure the Brand’s Survival

(Credit: Honor)

Facing US sanctions, Huawei is selling off its Honor smartphone brand to a company in China.

The sale is a stunning setback for Huawei, which still ranks as one of the largest smartphone vendors in the world. However, the Trump administration’s successful efforts to block top chip manufacturers from supplying its products to Huawei could spell the end for Huawei’s smartphone products. 

“Huawei’s consumer business has been under tremendous pressure as of late. This has been due to a persistent unavailability of technical elements needed for our mobile phone business,” the company wrote in today’s announcement. 

As a result, Huawei has decided to sell the Honor brand to a little-known company called Shenzhen Zhixin New Information Technology Co. “This move has been made by Honor’s industry chain to ensure its own survival. Over 30 agents and dealers of the Honor brand first proposed this acquisition,” Huawei said in

Read More

AMD CEO Lisa Su gets chip industry’s highest honor

Advanced Micro Devices CEO Lisa Su has received the chip industry’s highest honor as the 2020 recipient of the Robert N. Noyce Award.

The Semiconductor Industry Association, the chip industry lobbying group, gave her the award in an online ceremony today. Normally, the event takes place in San Jose, California, and has about 1,000 attendees.

Su’s award represents the first time the award has gone to a woman since it was started in 1991.

“It’s an incredible privilege to be part of this industry,” said Su. “I actually fell in love with semiconductors in my first year at MIT. My first job was doing grunt work in a semiconductor lab. If you look at this year, what is resoundingly clear is that technology is becoming even more important.”

The SIA presents the Noyce Award annually in recognition of a leader who has made outstanding contributions to the semiconductor industry in

Read More

Huawei Selling Honor Phone Brand in Face of US Sanctions | Business News

By JOE McDONALD and ZEN SOO, AP Business Writers

BEIJING (AP) — Chinese tech giant Huawei is selling its budget-price Honor smartphone brand in an effort to rescue the struggling business from damaging U.S. sanctions imposed on its parent company.

The sale announced Tuesday is aimed at reviving Honor by separating it from Huawei’s network equipment business, which Washington says is a security threat, an accusation Huawei denies. It is under sanctions that block access to most U.S. processor chips and other technology.

Huawei Technologies Ltd.’s announcement gave no financial details but said the company will have no ownership stake once the sale is completed. Huawei will retain its flagship Huawei smartphone brand.

The buyer is a state-owned company in Shenzhen, the southern city where Huawei is headquartered, and a group of Honor retailers. Earlier news reports on rumors of a possible sale put the price as high as 100

Read More

Huawei sells Honor smartphone brand as US sanctions bite

© Provided by City AM

Huawei is selling its budget smartphone brand Honor to a newly-formed consortium of Chinese buyers after US sanctions pushed the division to the brink of collapse.

The Chinese tech giant said it will offload Honor’s business assets to Shenzhen Zhixin New Information Technology Co, a group of over 30 agents and dealers, including several state-owned companies.

Read more: Huawei: ‘Clear evidence’ of collusion with Beijing, MPs warn

No value was given for the transaction, and Huawei said it will not hold any shares or be involved in any business activity at the new Honor company.

The sale comes after the US targeted Huawei’s supply chain with sanctions over concerns about national security. Huawei has always denied any wrongdoing.

In a statement today the company said its consumer division had been under “tremendous pressure” due to a “persistent unavailability of technical elements needed for our mobile

Read More

Huawei sells Honor brand after getting hammered by US sanctions

  • Huawei is selling its budget smartphone brand Honor following US sanctions squeezing its business.
  • Honor is being sold to a consortium of more than 30 organizations, and Huawei will hold no shares in it following the sale.
  • One analyst told Reuters that Huawei had left itself room to pursue a potential buyback in future.
  • Visit Business Insider’s homepage for more stories.

Huawei is selling its budget brand smartphone unit Honor to a consortium of more than 30 agents and dealers in a bid to keep it alive, the company and the consortium said on Tuesday.

The deal comes after US government sanctions have restricted supplies to the Chinese company on grounds the firm is a national security threat — which it denies.

The consortium issued a statement on Tuesday announcing the purchase, which will be made via a new company, Shenzhen Zhixin New Information Technology.

Huawei will not hold any

Read More

Huawei is dumping budget smartphone brand Honor

Huawei has been battered by a long US campaign against the company. Now it is hunkering down for survival by selling off its budget smartphone business.

a sign above a store: YICHANG, CHINA - NOVEMBER 11: A Huawei Honor store is pictured on November 11, 2020 in Yichang, Hubei Province of China. (Photo by Liu Junfeng/VCG via Getty Images)

© Liu Junfeng/VCG/Getty Images
YICHANG, CHINA – NOVEMBER 11: A Huawei Honor store is pictured on November 11, 2020 in Yichang, Hubei Province of China. (Photo by Liu Junfeng/VCG via Getty Images)

A consortium of buyers said on Tuesday that it has acquired Huawei’s Honor smartphone brand for an undisclosed amount of money. The buyers include more than 30 Chinese agents and dealers of the budget brand.

Huawei and the group of buyers said they struck the deal to help save Honor’s supply chain, and protect consumers and sellers. The Trump administration has cut off the Chinese company’s access to vital technology, such as chipsets and software for its smartphones and 5G telecommunications equipment. Washington says Huawei poses a national security threat, allegations

Read More