Skip to main content

Huawei shipped more smartphones than any other company last quarter — making it the first to dethrone Apple and Samsung in 9 years (AAPL)

* Chinese tech giant Huawei shipped more phones than any other company in Q2 2020, according to research firm Canalys. * That makes it the first time in nine years that a company other than Samsung or Apple led the quarter, the report says. * Huawei's dominance was largely fueled by its growth in China, which has seen better recovery from the COVID-19 pandemic than other markets like the US'.  * But Canalys warns that Huawei's spot at the top might be short lived, as growth in China likely won't be enough to remain the market leader once the global economy recovers.  * Visit Business Insider's homepage for more stories. Chinese tech giant Huawei shipped more smartphones than any other company in the second quarter of 2020, making it the first quarter in which a company other than Samsung or Apple led the market in nine years, according to a new report from research firm Canalys. Huawei shipped 55.8 million devices in the quarter, which is down 5% year-over-year but still enough to beat Samsung, which shipped 53.7 million smartphones in Q2. For Samsung, that's a decrease of 30% compared to Q2 2019, the report says.  A key driver behind Huawei's success has been its growth in China, which has seen its economy start to recover from the coronavirus pandemic as COVID-19 case numbers have spiked in other markets like the United States  and Europe. Huawei has largely relied on sales in China after US trade restrictions have barred the phone maker from loadings its phones with Google's popular apps.  The restrictions have damaged Huawei's international sales, as domestic shipments were down 27% in the second quarter. But the company is a dominant player in China, as it now sells more than 70% of its phones in mainland China, reports Canalys. The COVID-19 pandemic has decimated the global smartphone market overall, with the International Data Corporation forecasting that the market could decline by 11.9% year-over-year in 2020. But Huawei's reliance on the China market has given it a boost, reports Canalys. "This is a remarkable result that few people would have predicted a year ago," Ben Stanton, a senior analyst at Canalys, wrote in a statement announcing the report's findings. "If it wasn't for COVID-19, it wouldn't have happened. Huawei has taken full advantage of the Chinese economic recovery to reignite its smartphone business." Samsung, however, has a small presence in China according to Canalys, which reports that the South Korean electronics giant accounts for less than 1% of the market share. The report did not mention Apple, but China is the iPhone maker's third-largest market according to its most recent earnings report, coming after the United States and Europe. But Huawei's spot at the top could be limited; the report notes that dominance in the Chinese market won't be enough to sustain Huawei over the long term as the global economy recovers from COVID-19.  The report also comes just as Samsung and Apple have been leaning into selling cheaper devices to combat a global slowdown across the industry as consumers have held onto their devices for longer periods of time. Both companies are also expected to launch new high-end devices in the coming weeks and months, and rumors suggest Samsung could debut a new version of its Galaxy Note next month. Apple, meanwhile, is expected to debut its first 5G iPhone in the fall. And if Apple's 5G-enabled iPhone sells as well as the iPhone 11 lineup, Apple could become the market leader for 5G phones, according to Strategy Analytics. SEE ALSO: Apple Watch Series 5 vs. Series 3: The $200 Series 3 is the best deal for iPhone owners looking for a basic smartwatch Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
https://bit.ly/2P5OCCO

Popular posts from this blog

A full breakdown of what channels you get with every Sling TV package, plus all the add-ons

  * Sling is one of the most affordable cord-cutting services on the market, offering two packages —  Orange and Blue — with 30+ channels starting at $30 a month or combined for $45 a month. * Orange offers the Disney Channel and ESPN, while Blue offers a slate of Fox channels, NBC, Bravo, and Discovery. Both Orange and Blue offer CNN, TBS, Food Network, and BBC America. * You can also add on multi-channel packages, like Sports Extras, Kids Extras, or News Extras, starting at $5 a month. Premium add-ons, like Showtime, Starz, and Epix, are also available for an additional monthly charge.  * If you're new to Sling TV, you can receive a free 14-day trial for a limited time. * Here's a complete breakdown of the channels offered on each Sling package.    If you're hoping to get the most bang for your buck once you cut the cord with your cable subscription, Sling is one of the most affordable live streaming services on the market.  The service has two packages with ...
Read more

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital.  * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020.  * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories.  The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...
Read more

Why an early exec quit unicorn food delivery startup Deliveroo to launch a food business in the middle of a pandemic

* A former Deliveroo exec has launched a market food hall startup in the middle of COVID-19. * Dan Warne was managing director of the unicorn startup until 2019, but has now launched Sessions Market as a community food hall concept to rejuvenate UK towns after the pandemic. * Warne says he hopes to bring his experience from Deliveroo, particularly about customer behavior, to the analogue world of food halls. * The first venue, Shelter Hall on Brighton seafront, launches July 4. * Visit Business Insider's homepage for more stories. On Saturday, the UK's bars, restaurants, and cinemas will fling their doors open to customers for the first time since a strict lockdown commenced in late March. Given continued public health concerns around the coronavirus pandemic, it might be unwise to open a new food business right now. But Dan Warne, a former high-level executive at British unicorn startup Deliveroo, has launched Sessions Market, a series of community-orientated food hal...
Read more