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It’s no secret that Huawei has been in a tough spot since it was added to the U.S. Entity List and essentially cut from Google on its Android phones. With no solution in sight, Huawei is reportedly in talks to sell its premium smartphone brands Mate and P.
Reuters Huawei is reporting that Huawei is in “early stage talks” to sell its Mate and P smartphone brands, leading to a possible exit from the high-end smartphone space. Apparently Huawei has been talking about this decision since September 2020 and, despite continuing active discussions, a final decision has not been made. If sold, the brands would be bought by a government-backed group, just like what happened with Honor last year.
Chinese firm Huawei Technologies Co Ltd is in early-stage talks to sell its premium smartphone brands P and Mate, said two people with first-hand knowledge of the matter, a move that could potentially allow the company to exit the market. high-end smartphone manufacturing sector.
The potential sale of Huawei’s high-end smartphone lines suggests the company has little hope that the new Biden administration will change their minds on supply chain restrictions imposed on Huawei since May 2019, have said the two people.
Huawei’s Mate and P series smartphones have been among the world’s most popular smartphones for years, with both lines worth $ 39.7 billion between Q3 2019 and Q3 2020 according to the IDC.
This news should be taken with a grain of salt, however, as a Huawei spokesperson directly stated that the company had “no such plan” and that “there is no merit in these rumors. “. Note, however, it looks a bit familiar. This month alone, rumors that LG had quit the smartphone business were directly denied by spokespersons, only to be confirmed a week later.
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