Due to the various sanctions imposed on Huawei, the company saw a massive decline in its primary business of smartphones. Now, a Xiaomi executive has revealed which brands took advantage of this situation.
According to Lu Weibing, President of the Xiaomi Group, has revealed that the Chinese tech giant lost around 80 million of its customers over the sanctions. For those unaware, Huawei was cut off from its primary chip supplier TSMC, which manufactured its proprietary Kirin SoCs, while also losing access to its suppliers that it sourced US based technology from. In other words, the company’s smartphone operations was basically crippled, leading to its downfall.
The brand was once the 2nd largest smartphone OEM in the world but saw a quick decline following these sanctions from the US. The Xiaomi senior official revealed that out of the 80 million users that Huawei lost, 50 million of the users went to Xiaomi. On the other hand, the company had lost 20 million of its customer base to the iPhone maker, Apple, and the rest 10 million were acquired by its former subsidiary, Honor.
This again hints at how successful Huawei was in the Chinese market, since its absence left a massive gap that other brands rushed to fill in. Its market share was quickly taken up by rival companies, with most of them seeing a notable growth in recent years. Although, following various issues in supply chain and economic factors, the smartphone market overall is still in decline.
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(Via)
