SHENZHEN, China - Huawei Technologies [HWT.UL] and Apple both increased their share of the China smartphone market in the second quarter of 2020, bucking a broader trend as the overall market for handsets continued to contract.
Apple saw substantial year on year growth of 35%, selling 7.7 million units, though its sales made up only 8.5% of the total market. The contraction suggests that despite China's economic resumption following coronavirus-related lockdowns, consumers are tightening their belts and holding off purchases of new phones.
"The local brands are driving 5G penetration within their portfolio to support operator efforts to transition existing 4G users to 5G, which have already surpassed 100 million subscribers in July," said Louis Liu, an analyst with Canalys.
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