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Huawei denies report that it is planning to sell the P and Mate brands

By Cookie Monster - on 26 Jan 2021, 12:00am

Huawei denies report that it is planning to sell the P and Mate brands

The Huawei Mate 40 Pro.

Huawei has issued an official statement dismissing a Reuters report that it is planning to sell the premium phone brands. In a statement shared with Android Authority, the Chinese company said that it is simply not true.

Huawei has learned there are unsubstantiated rumors circulating regarding the possible sale of our flagship smartphone brands. There is no merit to these rumors 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.

Two sources with direct knowledge of the matter told Reuters that Huawei is in early talks to sell its premium brands P and Mate to a consortium led by Shanghai government-backed investment firms. The discussions apparently have been going on for months and started as early as September 2020.

No decision has been made on the sale and talks may not be successful. The plan was reportedly motivated by the U.S trade restrictions on chip supplies to Huawei. Huawei sold all of its Honor business assets to Shenzhen Zhixin New Information Technology Co. Ltd in November 2020. Honor announced a few days ago that it has resumed partnerships with Qualcomm, Micron, Samsung, Microsoft, MediaTek, Intel, AMD and other U.S companies.

Source: Reuters, Android Authority

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