Huawei Technologies Co, the Chinese smartphone producer declared petite for buying Nokia as company aims to become world smartphone leader according to the head of its consumer business cited by Financial Times.
The company recorded a quick progress in the industry despite there werent any major acquisitions made by the phone manufacturer. However, Huawei became the third largest by volume phone producer after Apple and Samsung. The immense growth is testing their suppliers to the limit as recently a shortage of components has been the reason of slow production.
“Twenty years ago, we were nothing but now we have the best quality [phones] and our customers say we are the best,” the CEO Mr Yu said, cited by Financial Times. “We want to shorten the gap with competitors. We want to lead.” he added.
Huawei has been experiencing a shift in company strategy as the smartphone builder entered the market with cheap and basic models. Now the focus is on producing high-end powerful devices capable to compete with Apple and Samsungs top sellers. Furthermore, the company is investing heavily in producing innovative smartphones trying to take the initiative. An interest for the Chinese company is wearable technology.
This week, company is supposed to launch its Ascend P6 model weighting only 120 grams (4.2 ounces) with a 4.7 inch display and powerful quad-core processor. The phone is thinner than iPhone and Samsung S4 with a 0.24 inch depth comparing to 0.30 of the Apples top selling smartphone. The price of the device is supposed to be lower than its competitors according to Mr Yu, CEO of Huawei.
The company has 4.3% of global market share for smartphones. Its shares lost 2.57% yesterday while Nokia is up 4.61% after the news of a possible acquisition.
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