The Chinese tech giant Huawei seems to be suffering greatly from the accusations of espionage. Among other things, these are causing the company to lose market share in the market for smartphones.
Market researcher TrendForce calculated that Huawei will still hold 4% of the global smartphone market next year. That means a substantial decrease compared to this year. Now the company still accounts for 14% of the market.
According to the researchers, the development cannot be seen in isolation from the ongoing opposition by the US administration. Washington suspects Huawei of spying for the Chinese Government, which the company denies.
Oppo and Xiaomi
Chinese competitors of Huawei such as Oppo and Xiaomi are, according to Trendforce, ready to jump into the gap that Huawei is leaving behind. American Apple also seems to be taking advantage of the problems at Huawei.
Huawei’s budget subsidiary Honor will account for 2% of the market next year. Huawei recently announced that it is going to dispose of this part. The sale was prompted, among other things, by component shortages and uncertainties as a result of the sanctions.