Richard Yu, a CEO of Huawei Consumer Business Group, told CNBC in an exclusive interview that he aims to make the company the number one smartphone vendor in the world by 2020 after overtaking Apple this year.
The top brand in the Chinese market, Huawei became the world's second-biggest smartphone seller behind Samsung at the end of the second quarter of the year and grabbed more than 15% of the global smartphone market. The leaders of market share, Samsung and Apple, has been split on the top for the first time in seven years. Huawei held on to that position in the Quarter 3 (Q3) 2018.
Over 350 million smartphones were sold globally in the Q2 2018. Samsung shipped 71.5m phones for a 20.9% share of the market. Huawei sold 54.2m phones for a 15.8% share of the market. Apple sold 41.3m iPhones for a 12.1% market share. Comparing to the year-over-year, Samsung reported a drop of 10.4%, Apple reported a rise of less than 1%, and Huawei reported a rise of 41%.
Despite that, Apple still overtakes the Chinese vendor concerning the revenues. In the past quarter, Apple made US$37 billion shipping iPhones in comparison with entire Huawei consumer business revenue in all of 2017, which amounted US$34 billion. To overtake Samsung Huawei would need to shop around 30 million to 40 million more smartphones per quarter, Neil Shah, a research director at Counterpoint estimates, said.
Huawei was founded in 1987 in Shenzhen, China. It is the largest suppliers of mobile networking equipment in the world and is known worldwide for its smartphones, tablets, and smartwatches. In 2012 Richard Yu decided to focus on innovation and continuously invest in research. That decision moved the company from manufacturer of feature phones to smartphone giant. In 2012, Huawei was blocked from the U.S. network equipment market due to national security and risk to provide access to sensitive information to China. Despite this ban, in 2018 the company becomes a major contender on the world stage and releases smartphones with original Artificial Intelligent chips.