by Babu Mohan on (#5A6BX)
The consortium is led by Honor distributor Digital China and the Shenzhen government.What you need to knowAs per a report from Reuters, Huawei plans to sell its Honor smartphone unit to a consortium led by Digital China in a $15.2 billion deal.The deal is expected to be announced as soon as Sunday.Honor reportedly plans to retain most of its 7,000-plus workforce after the sale.Huawei has decided to sell its Honor smartphone unit to a consortium led by Digital China and the Shenzhen government, according to a new report from Reuters. Per the report, the consortium will be paying Huawei 100 billion yuan ($15.2 billion) for the Honor brand. The deal is likely to be formally announced as soon as Sunday.The sale will include not just the Honor brand, but also its R&D capabilities and supply chain management. Digital China, which is the main distributor for Honor, will have a near-15% stake in the company after the deal is completed. Digital China has also been working with...