32 companies were included in the list
The release of the Huawei Mate 60 Pro smartphone attracted a large number of buyers in China. That sent shares of various companies surging, raising the combined value of Huawei’s 32 suppliers tracked by Bloomberg to about $34 billion.
“Huawei has become one of the few bright spots in both the market, boosting people’s confidence in the country’s prospects,” said Cheng Hao, fund manager at Zhejiang Feiluo Asset Management.
US trade restrictions have limited Huawei’s access to technology, slashing sales and dealing a major blow to its smartphone business. Meanwhile, domestically, Huawei continued to receive strong government support.
The Mate 60 Pro, based on domestic high-tech semiconductor, is being lauded as a “triumphant return to the mobile phone market, enhancing national pride for the company.” The phone is powered by the new Kirin 9000s chip, which was manufactured in China by Semiconductor Manufacturing International Corp (SMIC). According to media reports, this processor is the first to use SMIC’s cutting-edge 7nm technology, suggesting that Beijing has made some progress in its efforts to create a domestic chip ecosystem.
As we previously reported, sales of the iPhone 15 series within 17 days of its launch in China fell by 4.5% compared to the iPhone 14 series launched in 2022. The reason mainly lies in the success of the Huawei Mate 60 Pro series. Counterpoint estimates that Huawei will sell between 5 and 6 million Mate 60 Pro units in China this year alone.
