Huawei Technologies Co Ltd is in talks with Electronic China Team Co Ltd and other suitors to provide sections of its Honor smartphone unit in a offer that could fetch up to 25 billion yuan ($3.7 billion), individuals with information of the matter said.
Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will concentrate on its increased-conclusion Huawei phones relatively than the Honor brand name which is aimed at young people today and the funds mindful, they claimed.
The assets to be offered have nevertheless to be finalised but could consist of Honor’s manufacturer, investigation & advancement abilities and associated source chain administration business, two of the people today explained.
The deal may well be an all-income sale and could finish up smaller, really worth somewhere in between 15 billion yuan and 25 billion yuan, a person of the men and women said.
Electronic China, the main distributor for Honor phones, has emerged as the frontrunner but other prospective prospective buyers contain Chinese electronics maker TCL and rival smartphone maker Xiaomi Corp, the individuals explained.
The resources declined to be identified as the talks were confidential.
Huawei, Electronic China and Xiaomi did not promptly answer to requests for comment. TCL declined to comment.
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