News Digest / Latest Stock Market News / Huawei Innovation Propels HarmonyOS and AI to Global Prominence, Challenging Western Tech Giants

Huawei Innovation Propels HarmonyOS and AI to Global Prominence, Challenging Western Tech Giants

Lukas Schmidt
04:56am, Friday, Jun 21, 2024
Huawei Innovation Propels HarmonyOS and AI to Global Prominence, Challenging Western Tech Giants

Huawei Technologies (SHENZHEN: 002502) has declared remarkable advancements across various technological domains, from operating systems to artificial intelligence. In a bold statement on Friday, Richard Yu, chairman of Huawei's Consumer Business Group, highlighted that the company's decade-long journey has paralleled the progress that took the United States and Europe three decades to accomplish.

At the inauguration of a three-day developer conference in Dongguan, Yu revealed that over 900 million devices are now equipped with Huawei's Harmony operating system. "Harmony has made substantial leaps forward. In ten years, we've matched what it took our European and American counterparts 30 years to achieve enthusiastically.

Launched in 2019 as a response to U.S. technology restrictions that severed its access to Google (NASDAQ: GOOGL)'s support for Android, Huawei's proprietary HarmonyOS has carved out a niche. Yu boasted that the company's Ascend AI infrastructure now ranks second most popular globally after Nvidia (NASDAQ: NVDA), highlighting their impressive foray into realms traditionally dominated by Western tech giants.

Europe and the United States have long led the landscape of operating systems and associated software. However, according to Yu, the Internet of Things (IoT) has opened a window for Huawei to surpass these established powers.

Adding to their success story, Huawei's smartphone line has witnessed a resurgence following the launch of the Mate 60, featuring an enhanced China-manufactured chip. Yu reported that sales of Harmony-equipped smartphones soared by 68% in the first five months of this year.

Strikingly, in the first quarter of 2024, Huawei's HarmonyOS surpassed Apple (NASDAQ: AAPL)'s iOS, securing the spot as the second best-selling mobile operating system in China. According to research firm Counterpoint, it trailed only behind Android with a 17% market share.

For traders seeking to capitalize on trailblazing tech firms, Huawei’s announcements underscore its impressive momentum and signify a noteworthy shift in the global tech landscape. With substantial achievements in AI and the growing adoption of HarmonyOS, Huawei is a stock to watch in the evolving tech ecosystem.

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Lukas Schmidt

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