Chinese tech heavyweight Huawei has scheduled a product launch event on Sept. 10, the same day Apple Inc. AAPL is set to reveal its iPhone 16 lineup.
What Happened: Huawei’s event is slated for 2:30 p.m. Beijing time, coinciding with Apple’s late evening event on the U.S. west coast. While Apple’s “It’s Glowtime” event is anticipated to showcase the iPhone 16 lineup, Huawei’s product remains a mystery.
Richard Yu, head of Huawei’s consumer and automotive technology group, hinted at a “leading, innovative, and disruptive product” on the Chinese social media platform, Weibo, CNBC reported on Monday.
See Also: iPhone 16 Anticipation, Layoffs, Apple Intelligence’s Impact, And More: This Week In Appleverse
Yu described the product as “epoch-making” and something “others have thought of but cannot make.” He further claimed that Huawei has “turned science fiction into reality” after five years of investment.
Why It Matters: Huawei, despite suffering from U.S. sanctions, has been making a comeback, posing a direct challenge to Apple in the Chinese market.
Earlier this year, Huawei expanded its retail presence with four flagship stores in major Chinese cities, some located near Apple’s flagship stores. This marked a significant shift from Huawei’s previous reliance on licensed distributors.
According to a report by market research firm Canalys, Apple lost its place among the top five smartphone vendors by market share in China in the second quarter.
In contrast, Huawei saw a 41% year-on-year increase in smartphone shipments, the fastest among the top five brands. This resurgence is largely attributed to the launch of its new Pura 70 series in April.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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