🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Huawei holds on to No. 2 smartphone spot in first quarter: report

Published 05/28/2019, 06:42 PM
© Reuters. FILE PHOTO: Huawei's new Honor 20 smartphone is seen at a product launch event in London
INTC
-
GOOGL
-
QCOM
-
AAPL
-
XLNX
-
ADI
-
AVGO
-
005930
-
GOOG
-

(Reuters) - Chinese telecom company Huawei held on to its spot as the world's second biggest smartphone vendor in the first quarter, before being blacklisted by the United States, research and advisory firm Gartner said.

Gartner also said Huawei continued to reduce the gap with Samsung (KS:005930), but warned that growth could be limited in the near term.

The United States on May 15 blocked Huawei from buying U.S. goods saying the company was involved in activities contrary to national security. The Trump administration softened its stance last week by granting Huawei a license to buy U.S. goods until Aug. 19.

Gartner said Samsung retained its top spot in worldwide smartphone sales, achieving a 19.2% market share in the first quarter of 2019. Huawei achieved the highest year-over-year growth among the world's top five - Samsung, Huawei, Apple (NASDAQ:AAPL) and Chinese smartphone makers OPPO and Vivo.

Huawei sold 58.4 million smartphone units in the quarter, with growth across all regions, the report showed.

Total global sales of smartphones to end users fell 2.7% in the quarter, with 373 million units sold

Huawei did particularly well in two of its biggest markets, Europe and Greater China, where its smartphone sales grew by 69% and 33%, respectively. Huawei has a 29.5% market share of Greater China's smartphone market.

But the impact of the U.S. action against Huawei is likely to spook buyers. PriceSpy, a product comparison site that attracts an average of 14 million visitors per month, said last week that Huawei handsets were drawing fewer clicks from online shoppers.

"Unavailability of Google (NASDAQ:GOOGL) apps and services on Huawei smartphones, if implemented, will upset Huawei's international smartphone business which is almost half of its worldwide phone business," Anshul Gupta, senior research director at Gartner, said.

"Not the least it brings apprehension among buyers, limiting Huawei's growth in the near term," he added.

Companies that have either shunned Huawei completely or restricted buying from the company include Google, Softbank's ARM, Analog Devices (NASDAQ:ADI), U.S. chipmakers Intel Corp (NASDAQ:INTC), Qualcomm (NASDAQ:QCOM) Inc, Xilinx Inc (NASDAQ:XLNX), Broadcom (NASDAQ:AVGO) Inc, Japanese electronics maker Panasonic Corp and BT Group's EE.

© Reuters. FILE PHOTO: Huawei's new Honor 20 smartphone is seen at a product launch event in London

(This story corrects headline and lead to make clear ban came in to force after the first quarter)

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.