Huawei is shaking up the smartphone market and striking fear in the hearts of its competitors. The Chinese firm's sales for 2016 soared, which is in contrast to the drop in Samsung's and Apple's revenues. The Chinese giant might soon find itself the leading brand in the market.
According to a news report made by The Motley Fool, Huawei's sales for the year of 2016 jumped by roughly 27 percent compared to 2015. Apple and Samsung, on the other hand, saw their sales dropping by 4.3 percent.
While Apple's share fell by 1.5 percentage points and Samsung's by 2 percentage points, Huawei's continues to grow. The latter company's sales increase, as well as its growth in its shipments, meant that they held 8.9 of the market share last year, reports The Motley Fool. In 2015, they only had 7.3 percent.
According to figures from the Strategy Analytics and Counterpoint Technology Market Research, Huawei's smartphone shipments have been steadily increasing over the years. Where only 75 million units were shipped in 2014, the Chinese brand's shipments had grown to 139 million units two years later, reports The Motley Fool.
Most of Huawei's market remains to be in China, having shipped a reported 76.6 million phones to the local market. Apple's shipments to China, on the other hand, fell by 23 percent to 44.9 million units.
The Motley Fool writes further that Huawei's dominance in China could be the company's key to gaining the global smartphone market. It reasons that the Asian country is, after all, the biggest smartphone market and took up 21 percent of global shipments alone for 2016.
Huawei's goal of becoming the second largest smartphone company within a span of two years might be reached, reports The Motley Fool. Follow Jobs & Hire for more updates and job-related news and tips.