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Investment bank J.P. Morgan Chase reported that Huawei's smartphone sales in China are good. This year's smartphone sales are estimated to be 250 million (estimated at 220-230 million), which is expected to boost the second quarter revenue of the relevant supply chain manufacturer, TSMC (2330.TW), by 10% compared with the previous quarter.
JPMorgan Chase reported that the improvement in demand for technology products in the past few weeks was mainly due to Huawei's better sales in China's local market due to better sales of mid-and low-end models and adequate safety stocks for consumers and businesses.
The report also shows that overall demand for technology products has not improved significantly, and Huawei's sales increase is mainly due to an increase in market share. According to the report, Huawei estimates that smartphone sales will increase to 250 million units in 2019 (estimated at 220-230 million), mainly from the growth of low-and medium-level mobile phones, but most of the increase comes from weakening the market share of competitors, including millet, OPPO and VIVO; JPMorgan Chase still expects a 10% decline in China's smartphone market in 2019.
As for the semiconductor industry, Huawei's related orders are growing well. Huawei has increased its related orders by 30 to 50% in the second quarter of this year, mainly to Taiwan's Taiji Telecom (2330.TW), Sun Moonlight (3711.TW) and related multi-layer ceramic capacitors (MLCC) small parts, camera lens manufacturers and so on.
The report points out that the technology industry outlook for the second quarter of 2019 has made some progress. It is estimated that Huawei is the second largest customer of TSMC, the third largest customer of Sun Moonlight, the first largest customer of SUNNY OPTICAL (2382.HK), and the top three customers of several semiconductor and mobile phone suppliers. As a result, J.P. Morgan said that Huawei's growth is expected to increase the second quarter revenue of TSMC, a supply chain manufacturer, by 10% compared with the previous quarter.
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