Huawei issued a strenuous denial of media reports claiming it was in talks to sell its flagship smartphone brands to a consortium backed by the regional government in Shanghai.
In a statement, a representative for the smartphone manufacturer said the claims were unsubstantiated: “There is no merit to these rumours whatsoever. Huawei has no such plan. We remain fully committed to our smartphone business, and will continue to deliver world-leading products and experiences for consumers around the world.”
The comments came swiftly after Reuters reported Huawei was in early stage talks to sell its Mate and P-series brands, citing the move as one which could signify its exit from the high-end smartphone market.
In its report, the news website stated the potential buyer is a consortium led by a Shanghai-government backed investment entity, with the plan said to be partly due to Huawei’s problems sourcing chips [1] during ongoing US restrictions.
The speculation follows Huawei’s divestment of its budget-focused Honor brand [2]. Following the sale, Honor is reportedly able to access components [3] and software Huawei is currently banned from acquiring.
Huawei generally releases two sets of flagship smartphones every year, with its P-branded handsets in March [4] and Mate handsets launched in September or October [5].
[1] https://www.mobileworldlive.com/devices/news-devices/huawei-mulls-chip-supply-options-as-us-sanctions-bite
[2] https://www.mobileworldlive.com/devices/news-devices/huawei-shakes-on-honor-sale
[3] https://www.mobileworldlive.com/devices/news-devices/honor-plays-down-us-parts-restrictions
[4] https://www.mobileworldlive.com/featured-content/top-three/huawei-claims-photo-supremacy-with-p40-range
[5] https://www.mobileworldlive.com/featured-content/home-banner/under-fire-huawei-hikes-pressure-on-flagship-rivals
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