Huawei postpones terminal group sale

Global financial turmoil has forced Huawei Technologies to call off the planned sale of its device business.

In a statement issued Thursday, the comms vendor said it had put the sale process on hold because of "current global market conditions and prevailing economic uncertainty".

Huawei put the terminal division - which includes CDMA and W-CDMA handsets and PC cards as well as ADSL terminals - on the sale block earlier this year.

It had received bids from private equity firms Bain Capital and Silverlake, but both were 25% below the price Huawei was seeking, reported.

Huawei said its terminals group remained a "strategic focus" and a major source of growth.

It says it is the world's largest mobile broadband terminal supplier and the world's fourth largest CDMA handset supplier.