This Chinese smartphone company, which is going to compete with Apple, is going to be shut down, its smartphone dominates worldwide
There was a time when Huawei dominated Chinese smartphones worldwide. The Huawei company had niche telecom equipment. Huawei is ahead of the world’s leading telecom companies in terms of 5G technology. But the Huawei company is facing a worldwide ban, including the US, due to its connection with the Chinese military. Due to which the financial condition of the company has worsened. In such a situation, the founder of the company, Ren Zhengfei, has decided to sell the company. Huawei Technologies Co Ltd of China is in talks to sell its premium smartphone brands P and Mate. However, this is still the initial stage of negotiations.
Huawei company sales negotiations going on
According to the news, the Huawei company’s purchase negotiations are going on with the Shanghai government-backed consortium. Sales of Huawei’s P brand and Mate brand simply mean that the company is exiting the premium smartphone business. Huawei has not yet made a final decision on the sale. Sources have expressed apprehension over the success of the entire conversation. According to another source, Huawei started exploring possibilities of selling the brands as early as September last year. According to a consultancy firm, between the third quarter of 2019 and the third quarter of 2020, worldwide shipments of Mate and P series phones have been around $39.7 billion.
Huawei founder has served in the Chinese army for a long time
In 1987, Huawei debuted. About 1 lakh 80 thousand employees work in it. Huawei is the second-largest smartphone supplier in the world after Samsung. It has captured 18 percent of the world’s smartphone market, which is more than the market share of Apple and the rest of the smartphone company. Huawei company founder Ren Zhengfei has been a member of the Chinese Communist Party. Also, he has worked in the Chinese Army People’s Liberation Army for 9 years. Ren Zhengfei joined the Chinese Army in 1974 as an engineer. After this, in 1987, he laid the foundation of the company.
