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  • Huawei may sell premium smartphone brands P and Mate.

  • That is, according to two Reuters sources.

  • Talks are reportedly ongoing with a consortium led by Shanghai government backed investment firms.

  • Huawei has denied the report, saying there is no merit in it.

  • Shanghai officials said they weren't aware off the situation.

  • One of the sources says Huawei started exploring a possible sale as early as last September.

  • It's apparently motivated by insufficient access to chip supplies amid U.

  • S sanctions.

  • Since May 2019, Huawei has faced restrictions over allegations that it's a threat to national security.

  • The sources say the potential divestment is assigned.

  • The firm doesn't expect relief from US sanctions.

  • Even with a new administration in Washington now, any divestment could be a very big deal.

  • Shipments Off P and Mate phones were worth $39.7 billion over the year to the third quarter of 2020 Last year, Huawei sold off phone Brown honor in a deal one source valued at about $15.5 billion.

Huawei may sell premium smartphone brands P and Mate.

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