According to thepaper.cn, insiders revealed that the plan to sell Honor is expected to be officially announced on the morning of November 17, and more than 30 supply chain partners will jointly take over the deal.
Earlier reports from multiple media outlets stated that Huawei plans to sell its Honor smartphone business as a whole for a transaction price of CNY 100 billion. The buyers include Digital China, three state-owned institutions, and a small shareholder consortium composed of companies such as TCL. The Honor management team will hold shares in the new company, and the relevant information will be officially announced later this month.
According to Jiemian News, which obtained information from insiders, after Honor’s independent financing, several senior Huawei executives will join Honor to serve on its core management team. Among them, Wan Biao, Chief Operating Officer of Huawei’s Consumer Business, may become the chairman, while Zhao Ming, President of Honor, may become the CEO.