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Honor CEO Zhao Ming has resigned due to health issues, with former Huawei executive Li Jian appointed as his successor. Under Zhao's leadership, Honor became a leading mobile phone brand in China and Russia, despite challenges following US sanctions on Huawei. Li Jian's extensive experience in strategic management is expected to guide Honor's future growth.
Apple has lost its position as the top smartphone seller in China, overtaken by Vivo and Huawei, following a 17% decline in shipments in 2024. The company's struggles are attributed to the lack of artificial intelligence features in its latest iPhones, while Huawei's resurgence is fueled by new domestic chipsets and flagship releases. Xiaomi led the market with a 29% increase in shipments, while Oppo and Vivo also saw significant growth.
Vivo has overtaken Apple as the top smartphone brand in China, capturing 17% of the market, while Huawei follows closely with 16%. Apple's market share has declined to 15% due to its failure to meet local consumer demands, particularly in AI features, amid rising competition from domestic brands. Huawei's resurgence, aided by locally-developed chipsets, and the overall growth of the Chinese smartphone market highlight the challenges Apple faces in adapting to local preferences.
In 2024, Huawei and Vivo surpassed Apple in China smartphone sales, with Apple experiencing a 17% year-on-year decline, shipping 42.9 million units for a 15% market share. Despite retaining the top spot in Q4 with 13.1 million units, Apple faced a 25% drop compared to the previous year, as competitors leveraged advanced AI features and local subsidies to enhance their market positions.
Amphenol Corporation, a leader in connectors, interconnect systems, and cabling products, has received a Buy rating from UBS. The company's net sales are distributed geographically, with 35.1% from the United States, 23% from China, and 41.9% from other regions.
Amphenol Corporation focuses on designing, manufacturing, and marketing connectors, interconnection systems, and cabling products. Its sales are distributed geographically, with 35.1% from the United States, 23% from China, and 41.9% from other regions. UBS maintains a positive outlook on the company.
UBS has rated Rio Tinto 'Neutral' with a target price of 5250 pence. The company is a leading mining firm, with 2023 production primarily in iron ore (62.5%), followed by aluminium, alumina, and bauxite (22.2%), copper (5.9%), and other minerals, including gold and diamonds. Geographically, 59.6% of net sales come from China, with additional contributions from the United States (13.9%) and Europe (5.3%).
DAX reached a record high following US inflation data, with core inflation dropping to 3.2%, sparking renewed speculation about interest rate cuts. Attention now shifts to upcoming Chinese economic data and quarterly results from major US banks, while Trump's inauguration looms, raising concerns over potential trade tensions.
Huawei became China's second-largest smartphone brand in 2024, shipping 46 million units and capturing a 16% market share, driven by a 37% year-on-year growth. This resurgence follows U.S. sanctions that previously hindered its access to advanced chips, with innovations like self-developed chips and HarmonyOS Next playing a key role. Vivo led the market with a 17% share, while Apple fell to third, as the overall smartphone shipments in China grew by 4% to 285 million units, indicating a market recovery.
Apple regained the top position in China's smartphone market in Q4 2023 but fell to third place in 2024 amid fierce competition from domestic brands like Huawei. In Q4, Apple’s shipments dropped 25% to 13.1 million units, while Huawei's rose 24% to 12.9 million units. For the full year, Apple’s shipments fell 17% to 42.9 million, trailing behind Vivo and Huawei.
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Honor appoints new CEO as Zhao Ming resigns due to health issues
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