A company executive confirmed that Huawei Technologies is looking for a buyer for its handset/terminal business, reported the BusinessWeek. The handset business accounts for 10 percent of Huawei's total revenues.

Carriers AT&T and Vodafone and private equity firms including Blackstone, TPG and Kohlberg Kravis Roberts are eyed as possible buyers of a 50 percent stake in the handset business, said the report.

According to Meddy Lu, director of Huawei's terminal division, the company appointed Morgan Stanley to handle the possible sale of the unit. She added that the company is open to divest its handset business but they "don't have a timetable yet."

Lu added the company expects global sales to nearly double to 70 million units by year-end, as 3G services continue to pick up outside of Europe and growth remains strong in emerging markets.

Source:EE Times