Looks like we have new breaking news coming right from China with none other than Huawei. Previously we had rumors about Huawei planning to sell off its sub-brand Honor. We even got leaks about Huawei has already finalized the deal with Chinese Govt owned company. Now Honor new owner has officially revealed that they have acquired the brand completely.

As per the press release by Shenzen Zhixin New IT Co LTD, they have now signed an agreement with Huawei to acquire all the business assets related to its brand Honor for a whopping cash deal of 15.2 Billion dollars. So officially Honor is now part of Shenzen Zhixin New IT Co LTD and not Huawei anymore. This move might bring more success to the brand as it was banned in the past from making any business with US companies.

The part of the deal is that Honor will be owned by Shenzen Zhixin New IT Co LTD along with 30 agents and dealers of the Honor and Shenzen Smart City Technology Development Group. The change of owners doesn’t stop Honor’s ongoing research and development as the company will go on launching new products in the coming months.

The new owner also promised to retain the employees who were working with Honor currently. So we can expect some new changes to follow soon with the Honor brand. We have to wait and watch what’s in the store for Honor.