Huawei‘s projection for the year is looking very realistic by the day, as the company has posted a rather improved result in its performance during the third quarter of this year, Gartner reports.

According to the report by research firm Gartner, the China-based tech giant still maintained its third position in the global smartphone sales ranking for the third quarter 2016. Apart from that, Huawei grabbed a large slice of the market share for Q3 2016 thereby closing in on Apple who still sits at the second position. However, Apple’s lead over Huawei has shrunk a great deal according to the report, with the difference in market share coming down to less than 3%. This is attributed to Huawei making in-roads into the high-end smartphone sales, spurred by model such as Honor which was a hot sell in top-end markets.

OPPO, another Chinese brand owned by BBK Electronics, also posted a very strong result during the third quarter. The company followed closely behind Huawei at number four in Gartner’s global ranking for the quarter under review. OPPO is closely followed by BBK Communication Equipment, another subsidiary of BBK Electronics.

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Korean giant Samsung maintained its overall lead in global smartphone market share ranking for the third quarter but recorded a 14.2% loss in global market share when compared to the same period last year. Gartner posits that this was the worse ever posting by the company. The loss may be unconnected with the company’s botched Galaxy Note 7 which was predicted to amass a huge loss due to its withdrawal from the market over battery explosion related issues.

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American semiconductor maker, Qualcomm has released financial results for Q3 2016 which ended on the 25th of September.

Starting with revenue, the company announced that they earned $6.2 billion last quarter which is also their fiscal fourth quarter. This is a 13% increase from what they earned in the fiscal fourth quarter of 2015 ($5.5 billion). The company also disclosed that operating income for the last quarter rose to $1.8 billion, a 58% increase from the $1.1 billion recorded last year.

Since this is the fiscal fourth quarter for the San Diego based company, they have released details for the 2016 fiscal year.  Total revenue for the year is $23.6 billion and total operating income comes in at $6.5 billion. Comparing both figures to that of 2015, Qualcomm earned less in terms of revenue; a 7% decrease from 2015’s $25.3 billion. It’s operating income has also seen a 12% increase from 2015’s $5.8 billion.

In addition to the above, the company has released the figures for shipments of smartphone chips which is one of their primary sources of revenue. A total of 211 million chips were shipped last quarter, a 4% increase from what was shipped last year (203 million) in the same quarter and a 5% increase from what was shipped in fiscal Q3 2016.

READ MORE: Qualcomm Sues Meizu in France, Germany, and the US

The increase in shipments is due in no small part to the new growth in demand for their chips and the new license agreements in China. The CEO, Steve Mollenkopf, says the results are above the high end of their expectations and he expects the company to keep growing in global shipments of 3G and 4G devices. The company may also expand to new markets come 2017, following their acquisition plan of NXP Semiconductors.

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