Huawei to sell $15bn Honor unit to Shenzhen government

Huawei is reported to sell its Honor budget-smartphone unit to a Shenzhen government-led consortium in a 100 billion yuan ($15.14 billion) deal. Founded in 2013 by the multinational Chinese telecommunications giant, the sub-brand develops a line of cost-effective smartphones, which enabled Huawei to compete with mid-range online smartphone brands in China and globally. Honor sells…