Latest news with #KārlisDambrāns
HKFP
3 days ago
- Business
- HKFP
Huawei reclaims top spot in China's phone market, data shows
Tech giant Huawei topped China's smartphone market for the first time in over four years, outflanking US tech giant Apple as well as local competitors including Xiaomi, according to the US-based International Data Corporation. Huawei at Mobile World Congress in Barcelona, 2015. Photo: Kārlis Dambrāns/Flickr. The Shenzhen device maker captured 18.1 percent of the local phone market in the second quarter of this year, shipping 12.5 million units, an IDC report published on Tuesday showed. Huawei's domestic rebound comes after the company has faced a smattering of US export controls, Western bans and a graft probe in Belgium. China's overall smartphone market shrank after six quarters of growth, according to the IDC data, with shipments totalling 69 million units, down four percent on-year. 'Despite the recent US-China trade truce, the broader economic environment presents ongoing challenges, with consumer confidence remaining subdued,' Arthur Guo, a senior research analyst at IDC, said in the report. 'This suggests that a significant uplift in smartphone demand is unlikely in the immediate term, and the market will navigate a more complex landscape in the second half of the year.' A view of the border between Hong Kong and the mainland Chinese city of Shenzhen, taken from a rural area in Hong Kong's New Territories. Photo: Kyle Lam/HKFP. China's economy grew more than five percent in the second quarter, official figures showed, despite the tariff chaos unleashed by US President Donald Trump. Huawei has been at the centre of an intense standoff between the world's top two economies after Washington warned the company's equipment could be used by Beijing for espionage, an allegation the company denies. Sanctions since 2019 have curtailed the firm's access to US-made technologies, forcing it to develop its own components. California-based Apple has been suffering a slump in iPhone sales in China, and last year ceded its status as the country's best-selling smartphone brand to two local rivals. In the IDC report, Apple came in fifth on the list, retaining 13.9 percent of China's smartphone market and shipping 9.6 million units. Support HKFP | Policies & Ethics | Error/typo? | Contact Us | Newsletter | Transparency & Annual Report | Apps Safeguard press freedom; keep HKFP free for all readers by supporting our team Beijing, China Type of Story: News Service Produced externally by an organization we trust to adhere to high journalistic standards.
Yahoo
24-06-2025
- Business
- Yahoo
BofA Cuts Qualcomm (QCOM) PT to $200, Retains ‘Buy' on IoT, Auto Growth
QUALCOMM Incorporated (NASDAQ:QCOM) is also on the list of . On June 17, Bank of America (BofA) adjusted its price target for Qualcomm from $245 to $200. The firm maintained a 'Buy' rating for the stock. Kārlis Dambrāns/Flickr According to BofA analysts, the smartphone market has peaked. And seeing that it accounts for the bulk of Qualcomm's CDMA Technologies (QCT) revenues (73%), the analysts see limited near-term catalysts for the stock. The analysts also point to Apple (NASDAQ:AAPL) as a factor that poses risks to Qualcomm's bottom line. Apple is working on in-house modems, which means lower sales for Qualcomm. The analysts forecast Apple's contribution to Qualcomm's handset revenues to plummet to 6% in FY2027 compared to 15% in FY2024. Despite the lowered target, BofA analysts believe the stock is still a 'Buy.' In other words, the firm sees enough upside potential to justify Qualcomm's shares. The analysts acknowledge Qualcomm's strong growth potential in the Internet of Things (IoT) and automotive sectors, up 27% and 59% year-over-year, respectively, in Q2 FY2025. QUALCOMM Incorporated (NASDAQ:QCOM) is a global semiconductor and wireless technology company. It designs and supplies chips and system software for smartphones, automotive systems, Internet of Things (IoT) devices, and edge computing. The company serves major device makers like Samsung and Apple. While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Biotech Stocks Screaming a Buy and 13 Best Software Stocks to Buy Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Business
- Yahoo
Qualcomm Acquires Alphawave for $2.4B to Expand AI Data Center Footprint
Qualcomm Incorporated (NASDAQ:QCOM) is one of the 8 cheap beginner stocks to buy right now. On June 9, Qualcomm Incorporated (NASDAQ:QCOM), which is growing into the rapidly expanding AI data center industry, agreed to buy Alphawave for approximately $2.4 billion. While Apple ranks as one of Qualcomm's key customers, the iPhone manufacturer's increasing uses of in-house processors has led to the semiconductor company to expand its focus on serving industries like data centers and personal computers. Kārlis Dambrāns/Flickr The same day, Qualcomm Incorporated (NASDAQ:QCOM) also made two other all-share proposals for Alphawave. However, Alphawave intends to unanimously recommend the offer to its investors, believing it to be reasonable and fair. Jefferies analysts stated that given Alphawave's exit from its Chinese joint venture, WiseWave, they do not anticipate any significant regulatory barriers to the sale. The deal is expected to close in Q1, 2026 depending on regulatory approvals. In a statement regarding this acquisition, Cristiano Amon, president and CEO of Qualcomm, said the following: 'Qualcomm's advanced custom processors are a natural fit for data center workloads. The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.' QUALCOMM Incorporated (NASDAQ:QCOM) is a well-known American manufacturer of semiconductors and telecom equipment. The company supplies chips to major companies in a number of high-growth industries, including smartphones and autonomous vehicles. While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
