Huawei's smartphone launch marked a new milestone for China’s domestic chip-making industry.
J.P. Morgan predicts Huawei’s recent Mate 60 Pro smartphone launch could hurt Apple’s business in China.
“We believe that Huawei has already been making a comeback in the China domestic smartphone market and this announcement could help Huawei gain further market share domestically,” J.P. Morgan analyst Gokul Hariharan wrote in a note on Tuesday. “This is likely to halt iPhone market share gains in China and could put some downward pressure on iPhone 15 units post product launch this week.”
The analyst also cited how Huawei had increased its share of the China phone market from 7% in the second quarter of 2022 to 13% in the second quarter of 2023, even though it had a slower 4G phone lineup. That bodes well for sales of Huawei’s newer 5G phone.
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