Huawei sold its sub-brand Honor to rescue it from US sanctions

Hornor, the budget brand for smartphone by Huawei, has been sold to Shenzhen Zhixin New Information Technology, which is a newly formed company with a 98.6% ownership of the SASAC (State-owned Assets Supervision and Administration Commission). The deal may help Hornor regain access to high-end semiconductors as well as operating systems and app services provided by Google bypassing the technical restrictions imposed by the US government on global chip set manufacturers.