Due to various sanctions imposed on Huawei, the company has seen a massive decline in its core smartphone business. Now, Xiaomi’s president has revealed which brands are taking advantage of this situation. According to Xiaomi Group head Lu Weibing, the Chinese tech giant has lost around 80 million customers due to the sanctions. For those who don’t know, Huawei cut off TSMC, the main chip supplier that manufactures its Kirin processors, and also lost access to its suppliers from which it bought American technology. In other words, the company’s smartphone business was virtually paralyzed, which led to its bankruptcy.

The brand was once the world’s 2nd largest smartphone OEM, but it quickly declined after US sanctions. A senior Xiaomi official said that 50 million of the 80 million users lost by Huawei passed to Xiaomi. On the other hand, the company lost 20 million customers to iPhone manufacturer Apple, while its former subsidiary Honor bought the remaining 10 million customers.

This once again hints at how successful Huawei is in the Chinese market, as its absence has left a huge void that other brands are rushing to fill. Market share has been quickly taken by rival companies, many of which have seen significant growth in recent years. . Despite various supply chain issues and economic factors, the overall smartphone market is still in decline.