IC design manufacturers hoping good business in 2024, Huawei to also increase shipments

Chinese IC design manufacturers are expecting increased business in 2024 with improving smartphone product shipment and Huawei may also contribute to some of the rise in demand.

China’s smartphone chip supply chain industry insiders are saying that the worst time for demand is over and the chip market will gradually aim at recovery.

After two years of low demand, Chinese IC makers have found that the smartphone market may grow by a mid-single digit by next year. Among these, Huawei smartphones also returned to the market and their shipments are likely to increase.

Although, Huawei may not have a large portion of the overall shipments but there’s enough room for Huawei to expand its foot in the smartphone industry after a robust comeback with the Huawei Mate 60 Pro. Industry insiders also believe that the recent demand performance of smartphone applications is better than other consumer devices.

Evaluating the performance of the smartphone supply chain during peak season in the second half of next year should be better than the second half of this year and the first half of next year.

For the past two years, the demand for new devices has been sluggish and the demand for second-hand devices is growing. However, with the rise of generative AI applications, the development trend has begun to shift from cloud to on-device AI. This led to a new hope for the smartphone industry and it could be better for the IC manufacturers as well.