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What is the reason for loanwords to preserve the original pronunciation, but not to be assimilate into the new language?
For example, the German loanword from English Handy (mobile phone), it is pronounced like /hɛndi/, but not /handʏ/ (the regular way to pronounce this word in German).
Is this for specifically labelling them as loanwords but not native words?
Pronunciation of borrowed words can be influenced by spelling or by pronunciation. Words borrowed into English are strongly influenced by Latin alphabet spelling, until special pronunciation conventions are adopted for the target language. When the western standard for Chinese transliteration changed to pinyin, there was a period of hilarious mis-pronunciations of <q, c, x, z>, which abated somewhat via various social correction procedures. The soup known as "pho" is widely pronounced as [fo], though the Vietnamese spelling is phở and most non-Vietnamese have no idea what those diacritics are: but a number of people pronounce it [fʌ], again thanks to social correction trends. Nobody (who isn't speaking in Vietnamese) pronounces the word the way it is pronounced in Vietnamese, and nobody pronounced Chinese words with correct tones, because English doesn't have tones. Mosima Sexwale, an early post-apartheid government official in South Africa, had his name pronounced [sɛkswɛil] by the media, because they had no idea how to pronounce it. John Wells opined that the name is Venda (not an unreasonable conclusion) therefore x is pronounces as a back fricative as in IPA, but a competing account is that the name is Nguni where it stands for a lateral click (as in Xhosa). Etymology notwithstanding, English pronunciation (outside of southern Africa) follows orthographic rules for pronunciation. OTOH there is a "hard" rule that in Dutch, <g> is a velar fricative, except in bagage (and similar words) where it is a palatal fricative – as it is in the source language, French (likewise Danish, Norwegian, Swedish).
In all cases, the word is assimilated into the phonology of the receiving language. Norwegian pronunciation of "baggage" (conveniently respelled to bagasje) is not the same as the French pronunciation (there is no [ʒ] in Norwegian, a is a back vowel, not a front vowel). The variation that arises is in how words are adapted to the recipient-language phonology, and to what extent earlier rules of pronunciation have been overruled by loanwords. In the southern Bantu language, it was originally a rule there there were no clicks, but thanks to substantial contact with Khoisan language which have clicks, the rules changed.
