China’s Huawei Technologies Co. aims to overtake Samsung Electronics and Apple within the next five years to become the world’s biggest smartphone maker, Richard Yu, the head of the company’s consumer-electronics business, said at the Converge technology conference hosted by The Wall Street Journal and f.ounders.
He noted that the company’s market share will reach over 25% by that time. He said that the Chinese company wants to be the number-one smartphone maker in the world. “It’s a long distance race, and we have the patience,” said Richard Yu.
“Our growth is mainly coming from the high-end, premium segment,” Mr. Yu said. “If you want to be the leading vendor, you have to lead in the high-end.”
Mr. Yu said that Huawei’s partnership with Leica is an exclusive long-term alliance and he expects the collaborations to continue at least for the next five years.
Huawei is also pushing further into new technologies such as virtual reality. Based on its partnership with Alphabet Inc.’s Google, which provides a VR software platform, the company plans to release a new VR-compatible smartphone this fall, Mr. Yu said.