Chinese giant Huawei is being reported to be in early stage talks to sell its high end premium smartphone brands P and Mate.
According to Reuters, there are talks between Huawei and a consortium led by the Shanghai government backed investment firms that have been going on for months. Apparently, Huawei has internally explored the idea of selling the brands as early as September last year.
Huawei is yet to make a final decision on the sale and the talks might not be successful as per the sources quoted by the manufacturer.
Interesting enough, Reuters obtained a statement from Huawei about the sale. “Huawei has learned there are unsubstantiated rumours circulating regarding the possible sale of our flagship smartphone brands. There is no merit to these rumours whatsoever. Huawei has no such plan,” a Huawei spokesman was quoted by the publication.
The Huawei P series and Mate series are the top smartphone brands for the company and the company sells millions of these smartphones every year. We usually get to see the best of Huawei mobile on this smartphones and they have brought about great innovation like super zooms on phones using periscope cameras and great battery life. According to IDC, shipments of the Huawei P series and Mate series were worth $39.7 billion between Q3 2019 and Q3 2020.
Huawei was put into the US entity list which barred it from trading with US companies that crippled its supply chain restrictions. This rumour could suggest that the company has little hope on the new administration in the US will have a change on heart on that policy.
This report also follows another one made by Reuters where the company was considering selling parts of its Honor smartphone business.