Huawei smartphone sales grow by 40% in 2014 according to leaked memo
It is no secret by now that Chinese smartphone manufacturers are finally starting to generate some significant momentum in gaining market share through increasing sales of devices. A leaked memo floating around Huawei as the company preps for the public announcement of their 2014 results reveals strong growth for the manufacturer. According to the data revealed in the memo, sales rose by almost one-third to $11.8 billion in 2014 on the back of a 40% increase in smartphone shipments. If there is any downside, it is the fact that Huawei’s estimated 75 million smartphones shipped lags below their target of 80 million units for the year.
Huawei is not the only Chinese manufacturer expected to report on major success during 2014. Xiaomi sold 26 million smartphones during the first half of 2014 and is thought to be on its way to meeting a target of 60 million for the year. If they succeed, Xiaomi’s sales will have tripled compared to the prior year. Things are looking so good for Xiaomi that they received a new infusion of equity financing this week based on their $45 billion valuation which pegs them at the top spot in the whole world for a private technology company.
Another manufacturer of note is LG Electronics which reportedly has seen smartphone shipments increase by around 26 percent during 2014 according to analysts.
These three manufacturers represent a growing tide of companies that are rising up to grab significant market share for smartphones. That growth is expected to come at the expense of the large companies like Samsung which is expected to have flat shipment numbers for 2014 and Apple which anticipates 20 percent growth. Looking ahead to 2015, analysts expect Lenovo, thanks to their recent acquisition of Motorola, will be in the running with Huawei and Xiaomi to be the top Chinese smartphone vendor in 2015.
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