by Brandon Lee on (#5AFEX)
Huawei will have to focus its business on the high-end... for as long as it can.What you need to knowHuawei's sale of the Honor brand has been finalized.Honor will be owned by a new entity, Shenzhen Zhixin New Information Technology Co., Ltd.The sale amount is undisclosed, although previous reports suggest 100 billion yuan ($15.2 billion).Huawei has been in quite a pickle for the past year and a half, as the U.S. continuously attempts to block the Chinese company from working with any U.S.-based suppliers (with a few exceptions). No doubt Huawei's troubles have affected its Honor brand as well, which sells lower-end smartphones and accounts for nearly 30% of Huawei's total smartphone shipments. The latest development in Huawei's messy situation is the confirmation of what we're been hearing for about a month now; Huawei is selling the Honor brand.The deal, as reported by Reuters, is a "market-driven investment made to save Honor's industry chain." No figure was given, but...