Huawei Technologies Co Ltd is reportedly in talks with Digital China Group Co Ltd and several other companies to sell the assets of its smartphone unit, Honor, in an agreement that could reach up to US $ 3.7 billion.
The matter was revealed by sources who knew about the negotiations. However, the source refused to reveal his identity because the negotiations were held in private.
Huawei is said to be resetting its priorities in the face of sanctions by the United States (US) and will focus on Huawei smartphone brands over Honor.
Previously, the Honor brand was introduced for young people and those who do not want to spend a lot to buy a smartphone.
Among the assets to be sold are likely to include the Honor brand, research and development capabilities and related supply chain management business.
Apart from Digital China, which is a major distributor of Honor smartphones, also participating in the purchase negotiations are electronics manufacturers, TCL and Xiaomi.
However, the three companies declined to comment further on the matter.
