Today, Huawei issued a statement on the overall sale of the Glory business assets. Huawei does not own any shares in the handed over Glory, nor does it participate in the management and decision-making. The statement reads.
At a difficult time when industry technology elements are unsustainably available and consumer business is under tremendous pressure, Huawei Investment Holdings Ltd. decided to sell the entire assets of the Glory business to Shenzhen Zhixin New Information Technology Co. After the delivery of the glory, Huawei does not hold any shares, and does not participate in the management and decision-making.
A total of more than 30 glory agents, dealers jointly initiated the acquisition, which is also glory related industry chain initiated a self-help behavior.
Glory brand was born in 2013, always for young people, adhere to the low-end price, seven years to develop into an annual shipments of more than 70 million Internet mobile phone brand. Huawei is deeply grateful to Glory’s consumers, channels, suppliers, partners and employees for their dedication, love and support!
I wish the post-independence glory, together with shareholders, partners and employees, embark on the road to new glory, continue to create value for consumers and create a new intelligent world belonging to young people!
Huawei Investment Holdings Limited
November 17, 2020
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