Earlier this month the persistent rumors were proven true: Huawei sold off its Honor brand to a consortium of Chinese companies. The sale was widely believed to have been triggered by the various bans that Huawei has been subjected to by the US government.

Today Huawei founder Ren Zhengfei admitted at a company employee forum that the sale was necessary because of the smartphone unit being “under tremendous pressure due to a persistent unavailability of technical elements needed”.

He added that Huawei could overcome the difficulties, but decided to sell Honor so that the people it…

Original source: https://www.gsmarena.com/huaweis_boss_wants_recently_sold_honor_to_become_its_biggest_competitor-news-46490.php