Huawei continues negotiating to sell its X86 server business and has gained positive responses from the buyers. Though it doesn’t want to give up on this, in current senior the company is afraid of not providing enough compensation to the employees of this branch.
The report shows Huawei’s x86 server business had made substantial progress and has multiple buyers including Henan Information, Huaqin Technology, and a state-owned enterprise in Zhengzhou.
Furthermore, this server business of the Chinese firm will be composed of industrial funds, overseas sovereign funds, Internet companies, banks, and other social capital. Related sources to this matter stated, this change is only the first step, and other investors will continue to complete the business change.
Prior to this, it was reported that Huawei would package and sell its server product line to the Suzhou State-owned Assets Supervision and Administration Commission. However, the executives don’t want to lose this business but the current production is blocked.
Speaking of which, it’s getting more difficult for Huawei to secure its x86 server business from the giants like Intel Corp after imposing a ban by the US. Thereby, the firm hastened the selling process.
In addition, the company’s main focus is to survive in the current scenarios, and it’ll willing to take every possible step. The new business adjustments are part of the survival strategy and requirements.