Huawei is in talks to sell its premium smartphone brands P and Mate, Reuters reported, citing sources with direct knowledge of the matter. If the talks, still at an early stage, come through, Huawei will have exited the high-smartphone manufacturing business. The company confirmed in November that it was selling its Honor consumer smartphone brand.
Huawei has been in talks with a consortium led by Shanghai government-backed investment firms for months. The sources did not disclose any financial details about the deal which could still fall through on strategic motives: Huawei is still trying to manufacture its in-house designed high-end Kirin chips at home, for its smartphones.
The company denied the report: “Huawei has learned there are unsubstantiated rumours circulating regarding the possible sale of our flagship smartphone brands,” a spokesperson said. “There is no merit to these rumours whatsoever. Huawei has no such plan.” The Shanghai government said it was not aware of the situation and declined to comment further.
