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Huawei denies rumors of selling its smartphone business

Last year, Huawei has completely sold its subsidiary brand, Honor to Shenzhen Zhixin New Information Co. Ltd. a consortium of over 30 agents and dealers in China.

Lately, the rumors of Huawei selling its smartphone business are appearing online. Also, it’s also being rumored that the entire smartphone business will be sold to a company led by the State-owned Assets Supervision and Administration Commission of a major city in China.

Regarding this matter, Huawei has come up with a response and said that it has no plans to sell its smartphone business. The company will insist on building the world’s leading high-end smartphone brand and strive to provide consumers with an excellent product experience and services.

Huawei denies that they don’t have such plans and preparing itself to launch new flagship and mid-range smartphones to provide a new user experience. The financial report shows that in the first half of 2020, Huawei achieved sales revenue of 454 billion yuan, a year-on-year increase of 13.1%, and a net profit margin of 9.2%.

In the coming months, Huawei will launch its new flagship – Huawei P50, featuring a better display, and new camera technologies for the consumers. In the second half of 2021, Huawei will launch the Huawei Mate 50 lineup.

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