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Saf Malik
November 11, 2020
A deal could free up Honor to retain its use of Google services again
Huawei is set to sell its Honor smartphone brand in a deal reported to be worth over £11 billion.
According to reports from Reuters, Honor is set to be snapped up by a Chinese consortium led by handset distributor Digital China and the Shenzhen government.
Honor was launched in 2013 by Huawei aimed at consumers on more of a budget.
It follows reports last month that Huawei was looking to sell Honor in a deal worth close to £3 billion.
Reuters states that Digital China would occupy around 15 per cent stake in the business, with three other Shenzhen backed investment companies owning a similar amount.
Mobile News has contacted Huawei for comment.
Potential
Last year in Western Europe Honor ranked fifth for overall market share with 2.6 per cent, according to IDC.
The vendor sold more phones than its rivals Oppo, Nokia and OnePlus.
Any potential deal to sell Honor could open up opportunities for Honor handsets to once again use Google services, which was imposed last year.
Huawei was placed on the US Entity List in May 2019, meaning that its smartphones, along with Honor’s lost access to Google services.