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Huawei sells Honor phone brand to ‘ensure’ its survival

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There’s no mention of the financial details of the sale that had been rumored to cost about $15 billion, but Honor is being acquired by Shenzhen Zhixin New Information Technology Co., Ltd., which the Associated Press reports is “a technology enterprise owned by the government of the southern city of Shenzhen.” That’s where Huawei’s headquarters are located, as well as a number of Honor retailers.

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