Subtitles section Play video Print subtitles 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.