Huawei responds to the sale of glory: the industry chain saves itself, allowing the glory channel to continue

 Huawei sells Honor and does not hold any shares.

Today (17th), a number of companies issued a joint statement in the "Shenzhen Special Zone Daily" that Shenzhen Zhixin New Information Technology Co., Ltd. has signed an acquisition agreement with Huawei Investment Holdings Co., Ltd. to complete the comprehensive acquisition of the business assets related to the Honor brand. After the sale, Huawei no longer holds any shares in the new glory company.

According to a joint statement by a number of companies in the "Shenzhen Special Zone Daily", Shenzhen Zhixin New Information Technology Co., Ltd. has signed an acquisition agreement with Huawei Investment Holdings Co., Ltd. to complete the comprehensive acquisition of the business assets related to the Honor brand. After the sale, Huawei no longer holds any shares in the new glory company.

According to the statement, Shenzhen Zhixin New Information Technology Co., Ltd. was jointly invested and established by Shenzhen Smart City Technology Development Group and more than 30 glory agents and distributors, including Tianyin Communication Co., Ltd., Suning Tesco Group Co., Ltd., and Beijing pine Technology Co., Ltd., Shenzhen Shun Industrial Co., Ltd., Shandong Yi Hua Tong Technology Co., Ltd., Shenzhen Ji Shun investment Co., Ltd., Henan Science and Technology Co., Ltd. as the voice of health, Fujian Swiss gifted Technology Co., Ltd., Inner Mongolia EF special Communication Technology Co., Ltd., Harbin Jintan Technology Development Co., Ltd., etc.

The statement pointed out that the acquisition is not only a self-help and market-oriented investment initiated by the glory-related industry chain, it can maximize the protection of the interests of consumers, channels, suppliers, partners and employees; it is also an industry complementarity. All shareholders will Fully support New Glory, so that New Glory can draw on the advantages of all parties in terms of resources, brand, production, channels and services, and participate in market competition more efficiently.

The statement also stated that changes in ownership will not affect the direction of Honor's development, and Honor's senior management and team will remain stable. Distributors and agents who invest in New Glory also promise that they will only enjoy financial return on investment in the future, and will follow the market principle of fair trade on the business side and enjoy the same opportunities as other distributors and agents.

The following is the full text of Huawei's statement:

statement

November 17, 2020

At a difficult time when industrial technology elements are unsustainable and consumer business is under great pressure, in order to allow Honor channels and suppliers to continue, Huawei Investment Holding Co., Ltd. decided to sell the entire Honor business assets. The purchaser is Shenzhen Zhixin New Information Technology. Limited company. As for the glory after the delivery, Huawei does not own any shares, nor does it participate in management and decision-making.

A total of more than 30 Glory agents and distributors jointly initiated this acquisition, which is also a self-help behavior initiated by the Glory-related industry chain.

Glory brand was born in 2013, always oriented to young people, insisting on the low-end price, and developing into an Internet mobile phone brand with annual shipments of over 70 million units in seven years. Huawei is deeply grateful for the dedication, love and support of Glory consumers, channels, suppliers, partners and employees!

I wish the glory after independence, together with shareholders, partners and employees, embark on a new path of glory, continue to create value for consumers, and create a new world of wisdom for young people!

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