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Reuters reported that Huawei is in talks to sell its Mate and P brands to a consortium of investors, led by Shanghai government-backed investment firms.
The move would be in response to U.S. sanctions on the company, which have significantly hurt Huawei's business. Selling off the brands could it reestablish relationships with U.S. suppliers, as Honor recently did.
Reuters reported that a final decision on selling the Mate and P brands is yet to be made, as Huawei explores ways to manufacture its Kirin chips despite the U.S. sanctions.