The news had been in the air for some time. While there is still no official confirmation, as often happens in the China area, Huawei sells Honor and collects something like 15 billion dollars. According to industry “rumors”, the buyers are a group of investors, but linked to the Beijing government. The joint venture’s goal is to launch the new company on the stock exchange within three years. According to current figures, the Honor brand was worth 25% of the entire market for Huawei. The official is expected to be given internationally on November 20.
The reasons for the separation
Without a shadow of a doubt, the long struggle between the Chinese telephony giant and the now former US President Donald Trump has accelerated and brought about this separation. Despite the change of helm at the helm of the White House, the top management of Huawei had entered into negotiations in unsuspected times. Obviously, more relaxing moments and gestures from the new President Joe Biden await from Beijing. However, without waiting for the moves of others, now Honor becomes independent and can avoid commercial blocks and vetoes, starting with the restrictions on the use of Google. Huawei sells Honor and collects something like 15 billion dollars, thus releasing part of its brand on the market.
Huawei, birth and success
To read through this sale, which will surely cause a stir in the media, you have to go back over the years, but not so many, and review how the Chinese house was born. First of all, it is good to say that the year of its foundation is not so far away, dated 1987. Currently the company chaired by the magnate Ren Zhengfei it employs nearly 200,000 employees and has a net profit of nearly $ 9 billion, compared with a turnover of 123.
The word Huawei
“Make it possible”, “make it possible” is the slogan of this company, which in just a few years, thanks to its high quality products at low prices, has been able to conquer an important slice of the market. One of the first things that come to the eye to all customers, but also to the curious, is the meaning of its name itself. It contains a play on words, which practically combining the Chinese term and the English pronunciation can mean flourishing or prosperous. But, even in the original Chinese characters, we can read the word “China”. A way like any other to remind the world at the power of the eastern colossus.
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