Does Huawei want to sell its premium smartphone business?
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(Pocket Ribbon) – Huawei is reportedly in talks to sell its two premium smartphone brands, which would mean a withdrawal from the higher end of the market.
"Two people with direct knowledge of the matter" have reportedly told Reuters that the Chinese manufacturer is speaking with a buyer to sell its P and Mate brands.
The sale could unleash P and Mate phones from the shackles of the current US ban on Huawei, as the potential buyer would be a consortium with Shanghai's government-backed investment companies.
Most of the companies in Shanghai are not on the existing list of US entities.
It is also clear that a deal similar to the recent consortium takeover of the Honor brand could be struck. Huawei's dealers could be part of the ultimate ownership.
Huawei responded to Reuters who denied the sale: "Huawei has learned that unfounded rumors are circulating about the possible sale of our flagship smartphone brands," said a Huawei spokesperson.
"These rumors have no merit. Huawei doesn't have such a plan."
But since no final decision has reportedly been made, it may not want to upset the apple cart in the process.
We will update as and when we hear more.
Written by Rik Henderson.