Siemens selling off its cellphone biz to Ningbo Bird?

It won't have exactly the same significance as IBM selling it's PC business unit to Lenovo, but a German newspaper reported yesterday that Chinese cellphone manufacturer Ningbo Bird (that's seriously their name) was in the process of buying Siemens' cellphone division. Siemens has already issued a non-denial denial (that the company has made "no decision" about whether to sell the division or not), but even if this deal doesn't go through, we smell a new trend:
surging Chinese manufacturers buying up aging Western technology brands in order to expand beyond Asia.