SHENZHEN – China's telecom giant Huawei said Monday that it has no plan to sell its flagship smartphone brands.

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"Huawei has learned there are unsubstantiated rumors circulating regarding the possible sale of Huawei's flagship smartphone brands. There is no merit to these rumors whatsoever. Huawei has no such plan," Huawei said in a statement.

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Huawei remains fully committed to its smartphone business, and will continue to deliver world-leading products and experiences for consumers around the world, the company said.