Huawei is in talks to sell P and Mate smartphone lines

Huawei is in talks to sell P and Mate smartphone lines

FINANCE

2021-01-25 09:00:00

According to sources from Reuters, the Chinese tech giant may sell its flagship P and Mate smartphone lines to a company that is not subject to US sanctions to save them from being banned from key components.

Huawei has reportedly been in secret talks with a Shanghai group of investors for several months. The terms, conditions and other circumstances of the deal have not been disclosed - Huawei has not even confirmed its existence yet. In fiscal 2019-2020, Huawei's flagship smartphone shipments totaled $ 39.7 billion, so the deal is likely to be valued at the same amount.

Currently, Huawei and all of its subsidiaries are prohibited from doing business in the United States, selling or buying anything from American companies, or even doing business with businesses and contractors that use American technology and software. This dealt a big blow to business - the company can no longer produce its own Hisilicon Kirin processors at the Taiwanese TSMC factory, and the smartphones themselves have lost access to Google services and the Play Market. Due to the restrictions, the company even announced that the Mate 40 line would be the last one based on its own processors.

In November, the company already sold the HONOR sub-brand, and this is most likely not the last deal in the process of reorganization and adaptation of Huawei to new conditions.

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