NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

China's Huawei sells 1.6 million Mate 60 series handsets in six weeks - research firm

Published 10/24/2023, 12:47 AM
Updated 10/24/2023, 01:00 AM
© Reuters. FILE PHOTO: An advertisement for Huawei's Mate 60 series smartphones is seen outside a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo
AAPL
-

SHENZHEN, China (Reuters) - (This Oct. 19 story has been corrected to say '1.6 mln Mate 60 series sold', not just 'Mate 60 Pro handsets' in headline and paragraph 1 and to clarify that Mate 60 Pro is almost three-quarters of that figure in paragraph 3)

Huawei Technologies has sold 1.6 million of its Mate 60 series handsets in six weeks, a research firm said, as the Chinese technology giant defies a smartphone slowdown to enjoy strong demand in its high-end smartphone renaissance.

Of those sales, more than 400,000 units were in the last two weeks, the period in which Apple (NASDAQ:AAPL) launched the iPhone 15 on the mainland, Counterpoint Research said.

The high end Mate 60 Pro made up almost three-quarters of the Mate series phones sold, Counterpoint said.

In its first 17 days, iPhone 15 sales were down 4.5% compared to the iPhone 14, Counterpoint said, without providing specific figures.

Huawei did not immediately respond to a request for comment.

Huawei made a surprise launch of its premium Mate 60 Pro phone in late August, which many analysts say uses a domestically made chip and marks a breakthrough in the face of years of U.S. technology sanctions against the company.

The handset has been in high demand, with available stock swiftly being bought up as soon as it arrives, "creating the appearance of perpetual unavailability," said Counterpoint senior analyst Ivan Lam.

The overall global smartphone market contracted by 8% to its lowest third-quarter level in a decade on subdued demand for major brands.

© Reuters. FILE PHOTO: An advertisement for Huawei's Mate 60 series smartphones is seen outside a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo

Huawei, its former unit Honor, and Transsion Group were the only brands to record year on year growth in that period.

In China August smartphone shipments remained largely flat, rising 0.03% year on year to 18.99 million handsets, according to the China Academy of Information and Communications (CAICT).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.