China-based company Huawei was close to becoming a leading mobile phone brand before its progress was abruptly halted by the United States government. Huawei has suffered a series of setbacks after the US curbed a series of sanctions more than 3 years ago.
The sanctions also affected its operations in Europe causing a massive drop in its market share. This was said by a Huawei executive in the discussion of US intervention in its operations through sanctions.
US sanctions almost led to the downfall of Huawei. The result is down from the second position in the mobile phone industry. However, in the past year, Huawei has continued to rise. Huawei's HarmonyOS was one of its biggest achievements during that period. According to Yu, CEO of Huawei's consumer business group, Huawei could become the second leading manufacturer after Apple. He made this claim on an auto forum in China.
Samsung was at the top of the global market before the sanctions in 2019. However, Huawei expects it to overtake Samsung in a few years if you look at the company's growth forecasts. Also note that Huawei's 50% annual growth rate is a great performance. This could put it at the top of global mobile phone manufacturers within a year.