Huawei, the known consumer electronics maker, is expected to see a sharp decline in its global smartphone market share in 2021. A new report has revealed that the company might have its market share fall to just 4 percent next year.
For those unaware, the Chinese tech giant is one of the most popular smartphone manufacturers in the world. However due to recent obstacles, the company is expected to only account for 14 percent of the global market share this year, which will drop to less than a third of that by 2021, as per a BusinessStandard report. Researchers at TrendForce stated earlier this week that a sustained campaign of sanctions against the company is the primary reason for such a sizeable decline.
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Furthermore, Huawei had been facing troubles with the US, with the worst actions arriving a couple of months prior when the US Commerce Department reinforced restrictions against the company, which had already lost its primary chip supplier TSMC and disrupt its supply chain even further. The reinforced regulations also stripped away its key software, and technological edge. Notably, Huawei recently had to sell its budget smartphone business, Honor, after supply constraints and component shortages were affected its subbrand as well.
The TrendForce projection also points at other Chinese smartphone manufacturers like Xiaomi, Oppo, and others that would take advantage of Huawei’s current predicament to fill in the market gap. Additionally, Honor and the other Chinese OEMs would also likely raise their production targets and compete for the vacant space more aggressively next year. While this does paint a bleak year for Huawei, it remains to be seen how the company navigates its way through the rough situation at hand.
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