Samsung Electronics reported Thursday its net profit grew 7.3 percent year-on-year in the second quarter, with strong demand for memory chips overcoming the impact of the coronavirus pandemic on smartphone sales.
Huawei, for the first time, has become the number one smartphone seller in Q2 2020 according to the latest data by research firm Canalys. Huawei came in ahead of Samsung, Apple and all other smartphone manufacturers and shipped 55.8 million devices in the second quarter of this year.
Apple was the only major phone vendor to see growth in the second quarter as the global smartphone market shrank 14 percent year on year to 285 million units sold, with the coronavirus weighing on demand in major markets, research firm Canalys said.
Global smartphone sales saw their worst-ever slump in the first quarter as the coronavirus pandemic hit consumer spending, Gartner said Monday.
Global smartphone shipments will fall nearly 12 percent to 1.2 billion units in 2020, market research firm IDC said on Wednesday, citing lower consumer spending due to the economic impact of the coronavirus crisis.
Apple and Huawei each captured a higher share of China's smartphone market in the first quarter, according to data from research firm Canalys released on Friday.
Global smartphone sales tumbled 14 Percent in February as the coronavirus spread in China and overseas, Counterpoint Research said on Thursday, a likely harbinger of more declines as outbreaks worsen in many parts of the world.