Huawei is in talks with Digital China Group and other buyers to sell parts of its Honor smartphone business, Reuters reported.
The deal could be worth up $3.7 billion, a person familiar with the matter told Reuters.
The Chinese tech giant, facing heavy US sanctions, wants to concentrate on its high-end Huawei phones from now on, sources said.
Other potential buyers include smartphone maker Xiaomi and TCL Technology, the report said.
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Huawei is in talks to sell parts of its Honor smartphone business in a deal which could fetch up to 25 billion yuan ($3.7 billion), Reuters reported.
Huawei, which faces heavy sanctions in the US, wants to step away from developing its low-cost Honor phones and instead concentrate on high-end Huawei devices, according to people familiar with the matter.
Digital China Group, the main distributor for Honor smartphones, is the frontrunner to