Disney is about to get its very own iPhone, but the entertainment giant will need to get the deal done fast if it wants to stay ahead of Apple.
The tech giant will hold a vote next month on whether to sell its controlling stake in a company that makes iPhones, iPads and Macs to a Chinese investor, according to people familiar with the matter.
The stake, which is owned by Chinese telecom company Huawei, is worth roughly $1.7 billion.
Apple has said it has no plans to sell the stake.
The stakes are worth roughly the same in the U.S. and around $1 billion globally, according in the people, who asked not to be identified discussing internal company matters.
The deal could come as early as next month, the people said.
A Disney spokesperson declined to comment.
If Disney buys the stake, it would be the biggest U.K. tech company to own a controlling stake.
Apple’s stake in Huawei is valued at about $700 million.
Apple is one of several companies that have sought to acquire controlling stakes in China’s mobile phone makers, but has faced fierce resistance.
Chinese companies have struggled to compete with the Chinese brands that dominate the market, including Huawei and Oppo.
That has left U.N. trade officials scrambling to find ways to curb the growth of China’s phone market.
While China’s smartphone market grew by nearly a third between 2012 and 2015, the country is also facing a growing number of high-profile corruption scandals.
Some officials say there is a “war on phones,” a reference to the Chinese government’s effort to shut down any rival smartphone manufacturer.
Disney will own a 20% stake in Huacang, and will own 10% of the rest of the company.
Disney owns about 20% of Disney and Pixar, but only about 10% each of Lucasfilm, the company behind “Star Wars” and Marvel movies, and Walt Disney Studios.