'Huawei faced difficult days as global smartphone sales plunged, executive says' - SCMP
Portfolio Pulse from Benzinga Newsdesk
Huawei's annual smartphone shipments have plummeted to around 20 million units due to US sanctions, according to executive Richard Yu Chengdong. This significant drop highlights the impact of geopolitical tensions on the tech industry.
July 16, 2024 | 1:06 pm
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POSITIVE IMPACT
Huawei's decline in smartphone shipments due to US sanctions could benefit Apple (AAPL) as it may capture a larger market share in the global smartphone market.
With Huawei's significant drop in smartphone shipments, competitors like Apple are likely to benefit by capturing the market share left by Huawei. This could lead to increased sales and revenue for Apple in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The decline in Huawei's smartphone shipments due to US sanctions could negatively impact the iShares China Large-Cap ETF (FXI), which includes major Chinese tech companies.
The significant decline in Huawei's smartphone shipments could negatively affect the performance of the iShares China Large-Cap ETF (FXI), as it includes major Chinese tech companies that may face similar challenges.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60