Huawei Technologies is said to be plotting a return to the 5G smartphone industry by the end of this year.
China’s smartphone sales endured a record fall in 2022, tumbling 13% to their lowest level in a decade.
Apple was alone among the world’s top five smartphone vendors to register growth in the third quarter.
The global smartphone market had its worst third quarter since 2014 as economic headwinds pushed consumers to delay discretionary purchases.
Smartphone shipments fell 11% in the first quarter, the worst drop since the coronavirus outbreak, according to Canalys.
Huawei Technologies’ chairman has said that although US sanctions have choked its smartphone business, it will not give up and plans to eventually return to the industry’s “throne”.
China’s Lenovo Group, the world’s biggest maker of PCs, on Wednesday posted a better-than-expected jump in first-quarter profit as Covid-19 curbs continued to spur work-from-home demand.
Huawei saw its revenue drop by almost a third in the first half of 2021, with US sanctions hobbling its once-dominant handset business and new business areas still in their early stages.
Chinese smartphone maker Xiaomi overtook Apple in the second quarter to become the world’s second largest smartphone maker, market research firm Canalys said in a report on Thursday.
The global chip shortage is going from bad to worse with car makers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis.