BARCELONA—Just to be clear, Huawei Technologies Co. mobile chief Richard Yu isn’t one to boast.
Mr. Yu talks often about how the Chinese technology company, which jumped into the cutthroat smartphone market just a few years ago, still has a long way to go building its brand outside its home market. That is especially true, Mr. Yu says, in the U.S., where consumers still have trouble pronouncing its name. (It’s HWA-way.)
Mr. Yu said that Huawei—which is already the world’s third biggest smartphone makers by sales—will be a top-two player within two years and the top dog within five years.“Our competitors have strong brands, but we have much better products,” Mr. Yu said. Yes, No. 1 Samsung Electronics Co.005930.SE 0.00% and No. 2 Apple Inc.
Last year, Huawei accounted for 7.3% of the smartphones purchased by global consumers, according to figures from research firm Gartner. Mr. Yu said the company was aiming to hit 15% “quickly,” and then secure 25% of the market—enough to top Samsung—in five years.
“That’s my target,” he said, though he added, “our growth is always better than we expected.”
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