(CAIXIN GLOBAL) – The bad news keeps coming for sanction-hobbled Huawei.
IDC has just released its latest quarterly smartphone results, which show the embattled telecom giants smartphone sales plunged by nearly half or 42.4 per cent to be exact in last years fourth quarter from a year earlier.
That made Huawei the worlds fifth biggest brand for the period, a far cry from just two quarters earlier when it was at the top of the heap.
Huawei has been dogged by US sanctions for nearly two years now, as Washington aims to limit the companys role in the worldwide development of state-of-the-art 5G smartphones and networking equipment.
First the US banned American companies from selling components and software to Huawei. And last year it turned up the pressure by leaning on some of Huaweis key non-American suppliers to abandon the company as well.
Thats left Huawei with a limited supply of chips and other key components that have hurt its ability to make smartphones, forcing it to rely on stockpiles built up before the sanctions took effect.
Meantime, Huaweis pain has been Apple and Xiaomis gain. The iPhone makers smartphone shipments surged 22.2 per cent year-on-year in the quarter, enough to lift it past Samsung for the smartphone crown, as it shipped 90.1 million iPhones a record for a single vendor in a single quarter. And Xiaomis shipments rose by an even stronger 32 per cent, giving it 11.2 per cent of the global smartphone market.