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Huawei shakes up smartphone market with meteoric growth

Huawei is hot on the heels of its smart phone rivals, with its market share having risen 2.6 per cent in a year. The Chinese company was the third largest smartphone manufacturer in the world in the second quarter of 2014, according to research firm IDC, with a 6.9 per cent share in the market.

Meanwhile Samsung, the current market leader, saw its share fall from 32 to 25 per cent compared to a year earlier. Over in the US, Apple's share only dropped slightly from 13 to 12 per cent.

Samsung's shipments also declined by 3.9 per cent in a year, whilst Huawei saw huge growth, with a 95 per cent increase in shipments since the second quarter of 2013.

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Richard Yu, head of Huawei's consumer business group recently told The Wall Street Journal: "There are too many smartphone makers in the market, especially in China. The whole industry is consolidating and some global vendors are disappearing."

"But even though most vendors are suffering, Huawei is growing, not only in terms of shipments and revenue, but also profit. Last year we became the third-largest supplier by shipment. We shipped 52 million smartphones last year, and our target for this year is more than 80 million."

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Huawei already has close relationships with mobile carriers around the world and has been expanding its enterprise in Africa, the Middle East and Latin America, where consumers are still replacing basic feature phones with smart phones.

For those who are unfamiliar with the company, Huawei are responsible for making the Kestral smart phone, EE's budget 4G phone, which was unveiled in March this year.

Image Credit: Flickr (Luke Price)