China’s Huawei Technologies has overtaken Samsung to become the number one handset maker in Q2 2020 after shipping 55.8 million devices in the April-June period, trumping Samsung’s 53.7 million.
Reuters reports that Huawei’s big move was brought about by robust sales in its home market, China.
The company’s sales fell 5% from the same quarter a year earlier, while Samsung posted a 30% drop due to weak demand in key markets, including Brazil, the United States, and Europe.
Available data shows global shipments of smartphones fell at the fastest rate on record in the first quarter of 2020, totaling about 275 million in the first three months of the year. This is according to market trackers Strategy Analytics, which estimate the decline from the same period in 2019 at 17%.
With the added pressure of U.S. sanctions and scrutiny, Huawei Technologies Co. dropped by roughly 10 million units in Q1, landing near 49 million.
According to its H1 2020 results, the company generated $65 billion in revenue, a 13.1% increase YoY, with a net profit margin of 9.2%. Its carrier, enterprise, and consumer businesses achieved $22.9 billion, $5.2 billion, and $36.7 billion in revenue, respectively.