Huawei sells Honor due to technical equipment shortage
Huawei has announced the sale of its Honor smartphone business, crediting the decision to a shortage of technical equipment caused by the trade restrictions imposed by the US government. The Chinese tech giant confirmed that Honor will be sold to Shenzhen Zhixin New Information Technology - an enterprise owned by the government of Shenzhen, where Huawei is headquartered. In an official statement,
Huawei announced that its “consumer business has been under tremendous pressure as of late”. SEE MORE Qualcomm gets permission to sell 4G chips to Huawei SEE MORE Huawei reportedly agrees to sell Honor for £11.5 billion SEE MORE Honor MagicBook Pro review: The laptop bargain of the year “This has been due to persistent unavailability of technical elements needed for our mobile phone business. Huawei Investment & Holding Co., Ltd. has thus decided to sell all of its Honor business assets to Shenzhen Zhixin New Information Technology Co., Ltd. This sale will help Honor’s channel sellers and suppliers make it through this difficult time.” The tech giant added that the decision was “made by Honor’s industry chain to ensure its own survival” and that, “once the sale is complete, Huawei will not hold any shares or be involved in any business management or decision-making activities in the new Honor company”. However, it didn’t confirm whether Honor’s main distributor and Huawei’s cloud computing partner, Digital China Group, will hold an important role in the new ownership. Honor, which was first launched in 2013, focuses on low- to mid-tier priced smartphones marketed to younger consumers. According to CCS Insight chief of research Ben Wood, Huawei’s official announcement about the sale of the business unit, which has been speculated since last month, is “an important step”. “However, at this stage, there is a distinct lack of detail on the next steps making it hard to understand what direction the new business will take and how it will recover?” he added. “We assume that the goal will be for the new independent company to re-establish ties with Google and component suppliers. It seems Huawei had few other options other than closing or divesting the Honor division given the punitive sanctions imposed by the US administration,” said Wood. “At its peak, Honor was shipping 70 million phones annually. Given its historic dependence on Huawei for product development and scale it will be interesting to see whether an independent entity will be able to recover.”
Date: 2020-11-17
URL: http://feeds.itpro.co.uk/~r/ITPro/Today/~3/_-oP6WF-R0Q/huawei-sells-honor-official
itpro.co.uk
| Microsoft Surface Laptop 3 13in review gallery (2020-12-02) | The third-generation Surface Laptop is an amazing machine - with one big exception |
| Hackers could trick scientist into making deadly toxins (2020-11-30) | According to Ben-Gurion University of the Negev cyber researchers hackers could trick unwitting biologists into generating dangeroustoxinsin their labs Criminals generally must have physical contact witha dangeroussubstance to produce and deliver it However a new paper just publishedinNature Biotechnology claims its now possible for malware to easily replace a short substring of the DNA on a bioen.. |
| Zoom selects AWS as preferred cloud provider over Oracle (2020-12-01) | Zoom has announced plans to extend its strategic partnership with Amazon Web Services AWS selecting it as its preferred cloud provider The announcement follows that Zoom would be shifting a portion of its cloud infrastructure to Oracle Cloud due to an unprecedented surge in new users following the announcement of lockdown restrictions earlier this year Announced in late April the deal saw Oracle j.. Zoom selects AWS as preferred cloud provider over Oracle |
| NCSC battles surge of COVID-related cyber attacks (2020-11-03) | The National Cyber Security Centre NCSC has been battling a surge in pandemic-related cyber attacks reporting that more thana quarter of all security incidents reported in the last year were related to COVID-19 The organisation handled 723 incidents between 1 September 2019 and 31 August 2020increase from the 658 reported in the year prior In a blog post published today the NCSC explained that the.. |
| Secure your Wi-Fi against hackers - VPNs & guest access (2020-11-23) | Lock down your Wi-Fi network and find devices that are stealing your bandwidth and potentially your data |
| AWS is bringing Apple’s macOS to its cloud service (2020-12-01) | Amazon Web Services AWS has announced that Apples macOS operating system will be available on its cloud service for developers Amazon EC2 Mac instances for macOSand will run on Mac mini computers and will support developers building apps for the iPhone iPad Mac Apple Watch Apple TV and Safari SEE MORE AWS Re:Invent: AWS takes wraps off two new EC2 instances SEE MORE Apple unveils updated Mac lineu.. AWS is bringing Apple’s macOS to its cloud service |
| Biden win ‘would be good for global tech’ (2020-11-05) | A tech sector lobby group hassaid that Joe Biden being electedpresident of the United States could have a positive effect on the global tech industry The Democratic candidates openness to international collaboration data privacy and tougher digital taxation stand instark contrast to Donald Trumpsapproach to date according to Tech London Advocates TLA SEE MORE TLA: From Brexit to the coronavirus st.. |
| Asus ZenBook Flip S UX371 review gallery (2020-11-10) | Stylish and light but not a record-breaker |
| IBM’s expanded IBM Z skills initiative will help clients hire and train apprentices for key roles (2020-11-19) | IBM today announced its expanded the IBM Z skills initiative for cultivating talent by including a new nationwide IT Infrastructure apprenticeship accelerator program Delivered in collaboration with Franklin Apprenticeships and the Urban Institute the free program will target IBM Z Ecosystem clients looking to hire new collar talent across system administrators system programmers and application d.. |
| What is ransomware? (2019-10-22) | Ransomware is one of the biggest cyber security threats facing businesses todayIts a type of malware thatattackers can use to lock a device or encrypt its contentsin order to extort money from the owner or operator Given its potential to deliver a high return on investment and the relative ease at which it can spread thistype of attack has become extremely popular among cyber criminals It was rece.. |
