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(Pocket-lint) - Huawei is allegedly in talks to sell its two premium smartphone brands, which would signal a retreat from the higher end of the market.

"Two people with direct knowledge of the matter" have reportedly told Reuters that the Chinese manufacture is speaking to a buyer to offload its P and Mate brands.

The sale could see P and Mate phones unleashed from the shackles of the current US ban on Huawei, as the potential buyer is said to be a consortium containing Shanghai government-backed investment firms.

Most Shanghai concerns are not on the existing US entities list.

It is also understood that a deal could be made that is similar to the recent acquisition by a consortium of the Honor brand. Huawei's dealers could be part of the final ownership.

Huawei responded to Reuters denying the sale: "Huawei has learned there are unsubstantiated rumours circulating regarding the possible sale of our flagship smartphone brands," a Huawei spokesman said.

"There is no merit to these rumours whatsoever. Huawei has no such plan."

However, as it is said to have not made a final decision on the matter, it could be that it does not want to upset the apple cart during the process.

We'll update if and when we hear more.

Writing by Rik Henderson. Originally published on 25 January 2021.
  • Source: Exclusive: China's Huawei in talks to sell premium smartphone brands P and Mate - sources - reuters.com
Sections Huawei Phones