Huawei Technologies: no plan to sell top brands

Chinese telecommunications company Huawei Technologies yesterday dismissed the “unsubstantiated rumors” regarding the possible sale of its flagship smartphone brands, claiming that 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,” read the statement.

Reuters reported earlier that talks between the world’s largest telecommunications equipment maker and a consortium led by Shanghai government-backed investment firms have been going on for months

The Shanghai government said it was not aware of the situation.

Huawei’s P and Mate phone series are among the top players in the higher-end smartphone market in China and compete with Apple’s iPhone, Xiaomi Corp’s Mi and Mix series and OPPO’s Find.

The two brands contributed nearly 40 percent to Huawei’s total sales in the third quarter of 2020, according to market research firm Counterpoint.