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HUAWEI SELLING HONOR PHONE BRAND IN FACE OF US SANCTIONS

Chinese tech giant Huawei is selling its budget-price Honor smartphone brand in an effort to rescue the struggling business from damaging U.S. sanctions imposed on its parent company.

The sale announced Tuesday is aimed at reviving Honor by separating it from Huawei’s network equipment business, which Washington says is a security threat, an accusation Huawei denies. It is under sanctions that block access to most U.S. processor chips and other technology.

Huawei Technologies Ltd.’s announcement gave no financial details but said the

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