Huawei smartphone business to grow by 40% in 2024 if Kirin production boosts

Counterpoint released a new report highlighting the significant success of Huawei, despite the global smartphone shipments decline. At the same time, the organization cited that the Huawei smartphone business may see a rapid growth of 40% in 2024 if the Kirin production continues to expand.

To begin with, the report mentions that global smartphone shipments dropped by 5% YoY with only 1.2 billion units in Q3 2023. This is the lowest grade of the worldwide market in the past decade. Although, it may increase to 3% and reach up to 312 million units by the end of this year.

Regardless of these challenges, Huawei has come out in this race with flying colors. The Chinese tech maker scored good grades in the third quarter this year, thanks to the ultimate Mate 60 5G flagship and older P-series handsets.

On the flip side, the Counterpoint report predicts that the Huawei smartphone business may grow by 40% YoY if Kirin production expands successfully. The company is already making efforts to boost Kirin chip manufacturing and collaborating with several partners globally.

Apart from Huawei, Counterpoint highlights Apple’s growth which is constantly seeing a decline in phone sales. In Q3 2023, the graph for Apple showed a decrement of 3% YoY. A major reason behind this outcome is Huawei’s growth in the Chinese market.

Yet, it is expected that the iPhone 15 series will raise this mark by 65% in Q4 2024. In addition, the report says that the global smartphone shipment will continue to grow in 2024 and may see a rise of 3% in YoY with a healthy trend.

(Via)