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Tech Giant Samsung sees sales surge from rival Huawei’s ban

Samsung
Samsung 


By Mac

The Trump administration has targeted a number of Chinese technology firms over national security concerns that include’s Huawei, WeChat and TikTok.

Samsung also witnessed strong growth in sales of its premium TVs and appliances, Samsung’s mobile and chip businesses were likely boosted sanctions by  US department of commerce against its Chinese rival Huawei n any foreign company that sold chips to Huawei without first obtaining a license, during the month of July to September.

Samsung Electronics has reported record  an anonumous strong revenues of $59bn (£45.4bn) in its third quarter, the revenues which were fuelled by a 50% jump in smart phone sales, while profits from microchips sales at 82%.

The Korean tech giant posted a third quarter net profit of $8.3bn, a 49% increase over the same period last year.

The increase in sales likely reflects Samsung eating into Huawei’s market share as US restrictions hit the Chinese telecommunications giant.

What do you think?

Mark Andura

Written by Mark Andura

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