Huawei Planning to Sell Parts of Its Honor Smartphone Business: Report

Huawei is reportedly looking to sell parts of its 'Honor' smartphone business organisation post-obit backbreaking US sanctions that have fabricated it virtually impossible for the company to conduct on with the business. Co-ordinate to Reuters, the Chinese behemothic is in talks with a company called Digital China for a possible deal that could exist worth between 15 and 25 billion yuan (~$2.ii billion – $3.7 billion).

The study further states that other prospective buyers, including boyfriend Chinese tech giants, TCL and Xiaomi, are also in the fray to catch what they believe would be a very lucrative deal. None of the companies named in the Reuters written report accept made an official statement, but at least one bearding source apparently claimed that information technology might exist an all-greenbacks deal.

It is worth noting that this is non the first time we're hearing about Huawei'southward supposed plans to hive off parts of its smartphone business following stringent trade bans imposed by the Usa government. Last week, Chinese tech weblog, IT Home, first published a similar report citing noted TF International analyst, Ming-Chi Kuo, only was met with fierce denials from the company. The web log somewhen retracted the story.

As part of the Trump administration'due south continuing actions against Huawei and other Chinese tech firms, the US government, in August, announced new trade restrictions to prevent the Chinese giant from accessing technology produced past Us companies. The administration had earlier pressured Taiwan's TSMC into stopping the manufacturing of Huawei'south Kirin chipsets in a movement described past the company'southward consumer business CEO, Richard Yu, as "a huge loss for Huawei".