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Here’s how much Huawei got from Honor subsidiary sell

On March 31, Huawei announced the 2020’s financial business report. That shows the performance growth of the Chinese tech giant for the last year. Meanwhile, the company has met its expectations of business, and sales revenue along with net profit has also seen increases.

According to Huawei, its sales revenue was 891.4 billion yuan, a year-on-year increase of 3.8%, and net profit was 64.6 billion yuan, a year-on-year increase of 3.2%.

That’s not it because Huawei also revealed that the company has received a deposit of 10 million yuan (1.52 billion USD) for the sale of its former smartphone-making subsidiary, Honor.

Last November, Huawei made a deal with Shenzhen Zhixin New Information Technology Co. Ltd., a consortium of over 30 agents and dealers in China. After the completion of the sale, Huawei has not right to hold any share in the new Honor smartphone company.

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