A Small Cheap Handset maker...
... in a market rammed full of Small Cheap Handset makers. No-brand handsets like Huawei or Lenovo Mobile simply won't sell if pitched at more than 1000RMB, which barely covers the cost of 2001-standard hardware (ARM7, 1MB internal memory), let alone OS and patent licensing. If Chinese customers want to pay more for their phones, they buy Western-familar brands (Nokia, SE, Samsung, Moto and LG).
Nobody really wants the product, so who'd buy the company?