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Electronics Production | June 19, 2008

Huawei to sell stake in Handset Unit

China based Huawei Technologies plans to sell a stake in its handset unit, that could be worth $4 billion.

Bloomberg reports that the company has been offering the stake to a private equity firm over recent months. Huawei is said to consider selling 49% of its handset unit, however it does not invite strategic investors to avoid competition, the statement said. As Huawei does not publish fiscal figure, analysts are referred to Foxconn to assess the value of the unit. Bloomberg estimates the value of the 49% stake at $4 billion.
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