Huawei Technologies Co. dislodges Xiaomi Corp. from its position as the biggest smartphone maker in China. The company sold 27.4 million devices in the quarter ended September 30, according to reports citing data from research firms. That's up 81% from the previous year.
Japanese electronics supplier Sharp Corp warned it will slip into its third annual net loss in four years as fierce pricing competition saps sales of smartphone displays, the business line it had been counting on for growth.
Huawei Technologies Co promised to deliver fast 5G wireless connection service to its customers.
In a bid to increase its contribution to ZTE's overall revenues, the cloud computing and IT productions operations of the firm had laid out plans to expand cloud computing in China.
China's ZTE Corp flagged its third quarter earnings for the July to September period at the Hong Kong Stock Exchange.
Ethiopia signed an USD800 million contract with ZTE for the expansion of the country's mobile phone infrastructure.
The Smartphone-like network of switches would be offered by Huawei in October to boost its market share and challenge its rival, Cisco.
Samsung increased it investment by US$1 billion with the hope that it would compensate for the slumping smartphone growth.
Apple reported a 14% decline on its sales in China due to the increasing popularity of cheaper android phones and local brands.
Apple Inc continued to test larger screens for its smartphones and tablets to fit into the extensive trend among mobile manufacturers.
Asian chipmakers were expected to earn more due to the increasing demand for gadgets.
Huawei Technologies Co said it had no plans to acquire Nokia as stated by the company's Vice President for external affairs.