The Chinese telecom giant, "Huawei", announced that it has sold its smartphone brand at a cost of "Honor" to a local consortium of 40 companies that includes agents, distributors, and other companies, due to the tremendous pressure on its supply chain as a result of US sanctions.
Under these sanctions, Huawei is banned from obtaining basic American technology for its phones.
Since September, Huawei is no longer able to supply its advanced devices, for example, the new "Keri" chipset, and it does not have the ability to manufacture them internally. It is also no longer able to access Android system updates, the operating system of Google's dominant US group of phones.