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Huawei postpones auction for major stake in mobile devices unit

Darren Murph

It seems as if Huawei would rather hold tight to its mobile devices unit than sell it for less than it's worth, as evidenced by the sudden postponement of its auction last week. The Chinese telecom giant had cranked up the auction back in May in an attempt to generate cash and guidance for "navigating the North American market," but given the current economic situation, it reckons it's better off waiting for more prosperous times given that it's not in dire need of additional cash flow at the moment. We suspect Kenny Rogers said it best, and apparently, Huawei really does know when to hold 'em.

[Via mocoNews]

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