Sunday, 12 July 2020

Samsung may gain from Huawei’s plight in ongoing trade war: Fitch

SOUL: Samsung may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies in the wake of US-China trade tensions, according to Fitch Ratings.

Tech companies, including Google and SoftBank Group-owned chip designer ARM, have said they will cease supplies and updates to Huawei.

The loss of access to Google’s android system may hurt the smartphone sales of the Chinese technology company outside China, thereby giving Samsung a chance to improve its market share, Fitch Ratings said in a statement.

Earlier this month, the US government hit Huawei with severe sanctions as the US Commerce Department blocked the Chinese company from buying American goods amid its escalating trade spat with China.

The ratings agency also added that iPhone maker Apple could be another casualty of the trade tensions between Beijing and Washington, which would accelerate its market share loss in China.

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