Last November, with U.S. sanctions starting to bite, the Chinese telecom giant sold off its Honor smartphone brand — to the state. Why?
A Huawei Honor 5X, on display at the Mobile World Congress 2016. Credit: Kārlis Dambrāns, Creative Commons
Last November, Huawei announced that it had sold its budget smartphone brand called Honor to a consortium of state-backed investors. The deal, which Reuters said brought Huawei $15 billion, came just after the U.S. government tightened sanctions against the Chinese telecom giant. Faced with the threat of losing access to American chips, Huawei sold Honor (not its main smartphone brand) to the Chinese government. This week, as part of an occasional feature, The Wire breaks down the Huawei transac
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