Huawei takes up the challenge to become World’s Largest Smartphone Company by 2020
On Thursday, Huawei mobile department head Richard Yu express the confidence by stating the Huawei will become the world’s largest smartphone brand by 2020 during an interview in China.
The company is confident to hit the top, even if without entering into the US, South Korea, and Brazil, Yu – CEO of Consumer Business Group said.
Despite the absence in the US, Brazil and South Korea market, Yu Know that it’s challenging but he was confident about the statement.
After analyzing the data, In 2018, Huawei was the third largest smartphone brand globally slightly behind Apple in overall shipments while lagging notably behind Samsung, agency.
In the interview, Yu also stated that its new smartphoneP30 price is set 3,988 yuan ($594) for the Chinese market, which is about 35% cheaper than the €799 ($900) price point for the European market.
Considering the transformation of the Huawei, Yu revealed that the combined sales of smartphones bearing the Huawei and Honor branding will drive the company to become the world’s no. 1 brand by the end of 2020.
Huawei has invested about $6 billion on smartphone R&D every year, far exceeding other Chinese brands, according to Yu. Also, he mentioned that those who are unfamiliar with the brand will soon aware of it.