Chinese telecom equipment and smartphone maker Huawei has shown great resilience in the face of the adversity it faced in the form of ban on its products by a number of countries, including the U.S.
Huawei Cements Position
Huawei is on track to end the year with smartphone shipments of 230 million units, the Chinese National Business Daily reported, citing Tecent News, which quoted Yu Chengdon, CEO of Huawei Consumer Business Group. This represented a 12% increase from last year's 206 million units.
This compares to 226.5 million units sold by Samsung in the first three quarters of 2019.
About half of the global shipments were accounted for by these companies, the report said.
Huawei claimed it would end the year as the world's second largest smartphone brand behind only Samsung.
Apple Beats On Profits Though
However, Apple may still have the last laugh. Despite the estimated 12% market share for Apple, Apple boasts of a 66% share of industry profits and 32% for overall industry revenues in the third quarter, the South China Morning Post reported, quoting Counterpoint Research.
Samsung shared 17% of industry profits, while Huawei took home about 10%.
Despite pocketing the bulk of profits, Apple's dominance is slowly waning, as Chinese smartphone makers, which previously operated in low-margin and domestic markets, have expanded globally and introduced high-margin devices.