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BREAKING NEWS

BREAKING NEWS

Samsung may gain from Huawei's plight in ongoing trade war - Fitch

Samsung may gain from Huawei's plight in ongoing trade war - Fitch
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. REUTERS/Kim Hong-Ji -
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KIM HONG-JI(Reuters)
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(Reuters) - 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 U.S.-China 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 Chinese technology company outside China, thereby giving Samsung a chance to improve its market share, Fitch Ratings said in a statement.

Earlier this month, the U.S. government hit Huawei with severe sanctions as the U.S. 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 Apple Inc could be another casualty of the trade tensions between Beijing and Washington, which would accelerate its market share loss in China.

(Reporting by Kanishka Singh in Bengaluru; Editing by Rashmi Aich)

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