Reports that Huawei is considering a structural adjustment of its terminal business department that could involve splitting the mobile phone business and transferring part of its research and development team to Honor are false, a company insider has told local media outlet Jiemian. Instead, the telecoms giant is increasing investment in its mobile phone business and maintaining its high-end brand strategy, the employee asserted. Huawei is reportedly planning to release the P60 series and the foldable phone Mate X3 later this month. In addition to mobile phones, Huawei’s terminal business department is also actively promoting its smart car business. The CEO of Huawei Terminal, Yu Chengdong, believes that the smart car business, with its large profit margin, will be a strong complement to the terminal business, which has been facing challenges recently due to chip supply constraints. [Jiemian, in Chinese]