Huawei Technologies: no plan to sell top brands

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The discussions, which are still in the early stages and have been going on for months, are between Huawei and a Shanghai government-backed consortium of investors and distributors.

In response, Huawei officials have issued a statement to Chinese media that the company has no plans to sell its mobile phone business and that it will continue building high-end phones. This is a move that could see the company eventually exit from the high-end smartphone-making business.

Huawei has reportedly hived off its Honor to the Chinese government-backed consortium some time past year as the new technology giant had grappled with problems with the previous administration sanctions that had even cut off its own supply of mobile chipsets.

Both parties (Huawei and the Shanghai investment firms) have denied all rumours about a potential sale. Huawei is also likely to keep its existing P& Mate management team for the new entity, if the deal goes through, the two people said.

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The US sanctions brought serious challenges to Huawei's smartphone business, as the company struggled to secure supplies of microprocessors for its devices because of US dominance in the smartphone chipset industry. The two sources said that Huawei's latest plans for the two high-end brands were motivated by insufficient chip supplies. That's even led the company to pause manufacturing its own Kirin processors, since Huawei relies on software from United States companies to design its chips.

Huawei, the world's largest provider of telecommunications equipment and No. 2 smartphone maker, announced last November the sale of its Honor economy phone brand to a consortium of 30 dealers led by a government-backed company of Shenzhen.

Consumer Business Group CEO Richard Yu said past year that the USA restrictions meant Huawei would soon stop making Kirin chips. To that end, Huawei has reportedly been working on a way to manufacture Kirin chips itself using ARM designs.

Analysts have already noted a recent insufficient supply of the flagship P40 and Mate40 series due to a severe component shortage.

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