Huawei Tops China Smartphone Sales Leading to 618 Festival, up 42.4% y/y

01 September 2022, Berlin: The logo of Huawei at the electronics fair IFA. (dpa)
01 September 2022, Berlin: The logo of Huawei at the electronics fair IFA. (dpa)
TT

Huawei Tops China Smartphone Sales Leading to 618 Festival, up 42.4% y/y

01 September 2022, Berlin: The logo of Huawei at the electronics fair IFA. (dpa)
01 September 2022, Berlin: The logo of Huawei at the electronics fair IFA. (dpa)

Chinese phone maker Huawei lead in smartphone sales in China in the May 20-June 16 period that coincided with the 618 shopping festival, selling 42.4% more than a year ago, Counterpoint Research said on Tuesday.

Huawei's sales were driven by continued demand for its new 5G products, said the research firm, which covers the technology, media and telecom industry.

Total smartphone sales in China rose 6.8% during the period compared with a year before, with Xiaomi's sales higher by nearly 12.6% and Apple's sales up 2.7%.



Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
TT

Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)

South Korean electronic manufacturer Samsung Display Co plans to invest $1.8 billion for a factory this year in northern Vietnam to produce OLED displays for automobiles and technology equipment, the Southeast Asian country said on Sunday.

The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing Samsung electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.

Bac Ninh authorities and Samsung Display on Sunday also signed a memorandum of understanding of the project, local media reported, adding the investment would raise Samsung's total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.

Vietnam has over the last decade emerged as one of the most attractive production hubs for electronics companies.

According to Choi, Samsung has established six manufacturing plants, one research and development center, and one sales entity in Vietnam, with a cumulative investment of $22.4 billion.