Huawei Might Be Selling Its 5G Business
In a recent interview, Huawei’s CEO has said that the smartphone company might look into the option of selling its 5G assets, while also adding that Huawei would be looking for a buyer based outside of Asia, somewhere in the West.
As of now, the company doesn’t have any targeted buyers though. It could be an existing tech company or an entirely new entity, but the buyer will definitely be free to modify key elements and block access to products as they please. Huawei will also give full access to its 5G portfolio of licenses, code, blueprints and production expertise.
The company hasn’t disclosed the price of the 5G business yet. Also, the company has only said that it might sell, so we can’t be completely sure if it will happen. The reason for selling the 5G business could have something to do with the US ban, even though the Chinese tech giant is doing pretty well in the 5G market. Earlier in June, the Chinese company has signed 50 commercial contracts for 5G around the world and shipped 150,000 5G base stations, far more than the company’s industry peers. Many operators around the world including those from Europe, the Middle East, and the Asia Pacific, are racing to deploy their 5G networks.
Huawei has invested US$2 billion in 5G over the past decade and has developed leading 5G capabilities in every aspect, from chipsets and products to networking. It is the only telecommunications company in the world that is able to provide end-to-end 5G commercial solutions. On June 6, 2019, 5G licenses were officially issued in China. Huawei has worked with China’s three major operators on large-scale 5G commercial pilots in over 40 cities, and those networks are all ready for commercial use.