Chinese tech giant Huawei has faced massive losses since 2019. The company’s growth in the smartphone market was subdued due to post-pandemic supply crunch and price inflation along with the US ban. However, in the first quarter of 2024, Huawei made a strong comeback in the Chinese smartphone market and gained the top spot. News Nikkei Asia.
According to a recent report published by market research firm Canalys, Huawei sold 1.17 million smartphones in China in the first quarter of 2024, which is 70 percent more than the same period last year.
Meanwhile, the US technology company Apple’s sales in the Chinese market decreased by 25 percent to about 10 million units. In terms of sales, Apple has fallen to fifth place in the Chinese market. Apart from this, the sales of China’s local Oppo and Vivo brands of smartphones also decreased by 14 and 9 percent respectively. However, Huawei’s former budget brand Honor achieved 9 percent growth in the first quarter of this year.
According to the report, China is the world’s largest smartphone market, which is highly competitive. In the first quarter of this year, the sales volume of China’s top six smartphone companies was very close.
According to tech analysts, Huawei’s return to the top spot in the Chinese market indicates a strong comeback in its smartphone business.