Chinese tech giant Huawei is selling its budget-price Honor smartphone brand in an effort to rescue the struggling business from damaging U.S. sanctions imposed on its parent company. Huawei Technologies's announcement gave no financial details but said the company will have no ownership stake once the sale is completed. Huawei will retain its flagship Huawei smartphone brand. The Trump administration is lobbying European and other allies to exclude Huawei and other Chinese suppliers as they upgrade networks. Other Chinese smartphone brands such as Xiaomi, Oppo and Vivo operate without such restrictions.

Source: CBC News November 17, 2020 03:33 UTC