Huawei surpasses Apple as the world’s second-largest smartphone maker as Chinese companies lead the world in consumer electronic exports.
On the back of the hungry dragon’s rising preeminence in the global CE sector, China was the world’s largest consumer electronics exporter in 2017, accounting for 24% of the€1.7 trillion worldwide export market, according to Intrepid Sourcing. With estimated export revenue of €477 billion, Chinese exports shook off a 1.5% drop in earnings in 2016, growing 3.4% in 2017 due to a pickup in demand for Chinese smart wearables, leading edge LCD TVs and smartphones. Indeed, consumer electronics topped China’s export product list in 2017, accounting for over one quarter of total exports. These are likely conservative estimates, however, as exports through Hong Kong not included in the figures often originate in mainland China, note Intrepid Sourcing.
China’s rise to global CE dominance in recent years has been driven by massive investment in R&D and innovation by local companies that are now competing with top tier global brands like Apple and Samsung.
This fact is exemplified by the world-beating revenues of Chinese smartphone manufacturer Huawei Technologies, a company that tops patent applications around the world and is rapidly expanding its global market share – despite pushback from the US. Speaking at the 14th China Household Appliances Innovation Achievements ceremony, Jens Heithecker, IFA Executive Director, told the audience that 700 of the 1,800+ exhibitors at IFA 2018, come from China.
Mr Heithecker announced that dates for next year’s CE China show have been changed.
He said: “Next year at IFA, companies will still have the chance to meet the global markets here in Berlin with your newest products and all of your innovations.”
“Two weeks later, we will bring all of these new products to China to CE China in Guangdong Province. We think it’s the most efficient and the best way to serve the Chinese market and Chinese customers and I would like to invite you all to join both IFA in Berlin and, of course, CE China”.