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Huawei is a Chinese largest, and most influential technology company initially founded to manufacture phone switches. Nowadays it’s a major provider of telecommunication networks, operational and consulting services and equipment. Huawei was established in 1987 by Ren Zhengfei and now has over 170,000 employees that above all are working on manufacturing smartwatches, tablets and smartphones along with making label products such as routers, modems and mobile hotspots.
Huawei officially announced the sale of its Honor brand. Shenzhen Zhixin New Information Technology Co, a consortium of several private and public enterprises, will be the new owner of all of Honor's assets.
Huawei wants to sell a budget-brand smartphone unit Honor. The deal may be closed as early as next Sunday. Among potential buyers of Honor, there are TCL and Xiaomi.
Huawei will build a chip plant in Shanghai without using American technology to beat U.S. sanctions.
After the presentation of new Huawei smartphones, the pre-orders of the basic models were sold out in just 28 seconds even though the presentation itself focused more on Pro smartphone models.
China will impose retaliatory restrictions on the two largest European telecommunication-equipment manufacturers, Nokia and Ericsson, if the European Union prohibits Huawei 5G networks in the EU.
Termination of cooperation between Huawei and TSMC is disadvantageous for both companies. TSMC will lose a large client, which brought about 15-20% of annual revenue. Huawei is losing access to major manufacturer's facilities.