Get All Access for $5/mo

Huawei's Global Smartphone Shipments Jump in First Half Huawei aims to surpass market leaders Samsung and Apple within five years to become the world's top smartphone vendor.

By Reuters

This story originally appeared on Reuters

Reuters | Philippe Wojazer

China's Huawei Technologies Co. Ltd., the world's third-largest smartphone vendor, said first-half global smartphone shipments jumped 25 percent, helped by rapid growth in traditionally high-end markets such as Europe.

Shenzhen-based Huawei, which competes with Samsung Electronics Co Ltd. and Apple Inc., shipped 60.5 million smartphones globally in the first half.

Huawei's consumer business group, which includes its smartphone division, booked global revenue of 77.4 billion yuan ($11.6 billion) for the first six months, up 41 percent from last year.

Huawei aims to surpass market leaders Samsung and Apple within five years to become the world's top smartphone vendor.

Industry watchers, however, are less optimistic. They said Huawei is facing stiffer competition from domestic rivals such as Xiaomi Inc. and Lenovo Group Ltd. as cost-conscious consumers are looking for alternatives with similar features in an increasingly saturated global market.

Huawei's head of consumer business Richard Yu was, however, bullish about the firm's long-term prospects.

"There are only three major smartphone vendors in the world -- Apple, Samsung and Huawei. It's consolidating ... other vendors will die in the next three to five years," he told a news conference.

Research firm TrendForce last week cut its estimate for Huawei's annual smartphone shipments by 8.5 percent to 119 million units, citing worse-than-expected sales of Huawei's flagship phone.

"The sales of Huawei's flagship P9, which features a dual camera, may fall short of expectations as other Chinese brands release competitive products," said TrendForce analyst Avril Wu.

Huawei held 9 percent of the global smartphone market in the second quarter of this year, a distant third behind Samsung's 24.5 percent and Apple's 15 percent, according to TrendForce.

(Reporting by Yimou Lee; Editing by Edwina Gibbs)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Marketing

Patagonia and Oatly Just Used This Clever Tactic for Better Brand Visibility — Here's How You Can Replicate It

Even small and medium-sized companies can effectively leverage the same PR strategy that big brands use to earn significant media coverage and audience engagement, despite limited resources.

Side Hustle

This Former Disney Princess Lived 'Paycheck to Paycheck' Before Starting a Side Hustle at Home — Now She Makes $250,000 a Year

Victoria Carroll's income was "sporadic" until a friend encouraged her to take her talents to Fiverr in 2018.

Business News

'This Is the Final Straw': Elon Musk Says He's Moving X, SpaceX to Texas

Both companies are currently headquartered in California.

Business News

Taylor Swift Revealed the Surprising Way She Prepares Her Mind and Body for Big Moments

If you've got big plans and big dreams, Swift's approach can be the game-changer.

Leadership

He Didn't Want to Lead His $1 Billion Business the Same Way Anymore — Here's How the High-Stakes Switch-Up Paid Off

Advait Shinde, co-founder and former CEO of educational software company GoGuardian, was ready for a change. So was former COO of LegalZoom Rich Preece.