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 during ongoing US restrictions.
The speculation follows Huawei’s divestment of its budget-focused Honor brand. Following the sale, Honor is reportedly able to access components and software Huawei is currently banned from acquiring.Subscribe to our daily newsletter Back