Huawei tops China smartphone market for first time in years
The hardware giant held on to a roughly 18 per cent share of the market in the June quarter, while other leading competitors such as Vivo and Oppo slumped, according to IDC data. The Shenzhen device maker showed greater resilience than rivals as overall shipments in China fell 4 per cent to 69 million units.
Huawei's recovery follows years of US export restrictions, which spurred the company to develop its own hardware and technologies, including artificial intelligence chips.
In 2024, Huawei launched several smartphones powered by domestically designed and manufactured semiconductors, including the world's first commercially available device with two folds. It's also added smartphones with its own operating system, transitioning away from Google's Android.
IDC researchers saw the first decline in China shipments after six consecutive quarters of growth, attributing that to diminishing help from government subsidies.
'Despite the recent US-China trade truce, the broader economic environment presents ongoing challenges, with consumer confidence remaining subdued,' said Arthur Guo, senior research analyst at IDC China. 'A significant uplift in smartphone demand is unlikely in the immediate term.' BLOOMBERG
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
2 hours ago
- CNA
India resumes visas for Chinese tourists after five years amid thaw in diplomatic tensions
NEW DELHI/BEIJING: India will start issuing tourist visas to Chinese nationals from Thursday (Jul 24) for the first time in five years - marking a significant thaw between the two Asian giants after a deadly border clash deeply strained relations. According to an official notice shared online by the Embassy of India in China, applicants must complete an online form before booking an in-person appointment to submit required documents at its embassy in Beijing or consulates in Shanghai and Guangzhou. It follows China's gradual resumption of visas for Indian nationals in recent years, including tourist visas in March this year. Some reports said that Chinese Embassy and consulate offices had issued 85,000 visas from January to Apr 9, without indicating the category of visas. Beijing has welcomed the 'positive' move by India. Speaking on Wednesday, Chinese Foreign Ministry spokesperson Guo Jiakun said China was 'ready to maintain communication and consultation with India to further facilitate travel between the two countries'. An opinion piece published on Thursday by the state-owned Global Times tabloid called it 'a positive development' but said there was 'still a lot that the Indian side can do'. It noted that India had imposed 'relatively high thresholds' for Chinese tourists applying for visas, such as providing bank statements over the past six months to show a minimum balance of 100,000 yuan (US$13,966). 'These requirements not only fall short of the visa standards from five years ago but also clearly lag behind the global trend of streamlining visa policies and facilitating cross-border travel,' Global Times wrote. 'India should do more to build mutual trust, bridge perception gaps, and foster goodwill among the two peoples,' it said, adding that it was also important to see if India would take 'more substantial steps', such as improving visa approval rates, tourist services and safety, and the possible relaxation of visa requirements in the future. 04:50 Min The world's two most populous nations share a 3,800 km border that has been heavily disputed since the 1950s. Tensions escalated following a June 2020 military clash that resulted in the deaths of 20 Indian and four Chinese soldiers. The clash led to a military standoff with both armies deploying tens of thousands of troops in the mountains as well as both countries to suspend flights, investments and visa services to each other during the pandemic. Negotiations to settle the dispute made slow progress. But relations have gradually improved, with Indian Prime Minister Narendra Modi and Chinese President Xi Jinping meeting on the sidelines of the BRICS summit in Russia last October. Last month, both countries' foreign ministries announced a mutual agreement to expedite the resumption of direct air services and step up communication. China resumed visa services for Indian students and business travellers in 2022 while tourist visas for Indian nationals remained restricted until March this year, when both countries agreed to resume direct air service. Modi is also expected to attend the Shanghai Cooperation Organisation summit in Tianjin next month, which would mark his first visit to China since 2018.
Business Times
2 hours ago
- Business Times
Singapore shares continue to rise, tracking regional indices; STI up 1%
[SINGAPORE] The Straits Times Index (STI) closed higher on Thursday (Jul 24), tracking regional indices. The STI ended 1 per cent or 41.77 points up at 4,273.05. Across the broader market, advancers outnumbered decliners 356 to 223, after 2.4 billion shares worth S$1.9 billion changed hands. The trio of local banks continued to rise on Thursday. DBS gained 2.2 per cent or S$1.08 to close at S$49.21, UOB was up 0.3 per cent or S$0.13 at S$37.36, and OCBC advanced 0.3 per cent or S$0.06 to S$17.27. ST Engineering was the top gainer on the STI, closing up 7.1 per cent or S$0.59 at S$8.86. The biggest loser was Hongkong Land , which declined 2.2 per cent or US$0.14 to US$6.19. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Across the region, major indices were up, with South Korea's Kospi rising 0.2 per cent and Japan's Nikkei 225 advancing 1.6 per cent. Hong Kong's Hang Seng Index ended 0.5 per cent higher, and Malaysia's KLCI gained 0.7 per cent. Traders are riding on the optimism that the worst-case tariff scenarios may have been priced too pessimistically, said Stephen Innes, managing partner, SPI Asset Management. The trade deal announced between the US and Japan on Wednesday cut tariffs on Japanese imports to 15 per cent, rather than the 25 per cent that US President Donald Trump had earlier threatened. This is said to have provided a lifeline for global risk appetite. The rumours that the US-European Union accord could mirror the same 15 per cent figure have given stocks wind beneath their wings, added Innes. 'The tariff average settling at 15 per cent – if achieved – would be seen as damage control rather than destruction. Markets, ever forward-looking, are repositioning for a softer landing,' he noted.
CNA
2 hours ago
- CNA
China's Luckin Coffee opens first stores in New York. Can they take on Starbucks on home ground?
Scroll up for the next video X China's Luckin Coffee opens first stores in New York. Can they take on Starbucks on home ground?
