Exclusive: Huawei in talks to sell parts of its Honor smartphone business – sources

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

FILE PHOTO: Huawei’s new Honor 20 smartphone is seen at a product launch event in London, Britain, May 21, 2019. REUTERS/Peter Nicholls/File Photo

Embattled Huawei is resetting its priorities due to U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere

Read More

Exclusive: Huawei in Talks to Divest Parts of Honor Smartphone Business, Sources Say | Investing News

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd <000034.SZ> and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor for Honor

Read More

Parts Town Ranks 20th in Crain’s Chicago Business “Fast 50”

Company recognized among fastest-growing Chicago businesses for the 8th time

Parts Town, the market-leading distributor of foodservice equipment parts, has been named as a 2020 Fast 50 honoree by Crain’s Chicago Business. Parts Town earned the 20th spot on the list, cracking the top 20 for the second year in a row.

The Fast 50 feature recognizes the fastest-growing companies in the Chicago area, based on five-year growth percentage. Parts Town received its rank by reporting more than $719 million in revenue in 2019, a 496% increase from 2014.

“Making the Fast 50 list for the eighth time is an incredible honor. Our sustained growth is driven by an amazing team that is committed to serving our customers and manufacturers with excellence every single day,” said Steve Snower, Chief Enthusiasm Officer, aka CEO, of Parts Town. “Right now, we are focused on the health and safety of our team members

Read More