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

An employee using his mobile phone walks past the logo of Samsung Electronics at its office building in Seoul August 26, 2017. — Reuters pic
An employee using his mobile phone walks past the logo of Electronics at its office building in Seoul August 26, 2017. — Reuters pic

NEW YORK, May 27 — Samsung Electronics Co Ltd may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies Co Ltd in the wake of US- 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 technology company outside China, thereby giving Samsung a chance to improve its , 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 Inc could be another casualty of the trade tensions between Beijing and Washington, which would accelerate its market share loss in China. — Reuters

Source: The Malay Mail Online





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