"Apple was just overtaken by Huawei in global smartphone sales" (AAPL)

From Quartz:

Apple has just reported its highest-ever third-quarter revenue—$53.3 billion—and a 32% jump in profit from year ago. The iPhone maker is getting close to becoming the first trillion-dollar public company.

Less noticed, it was also just overtaken in worldwide smartphone sales by a Chinese rival with a huge disadvantage.

Huawei, based in Shenzhen, is virtually locked out of the US, due to official concerns that its technology could be used by the Chinese government to gather intelligence. The company denies that its products, which include telecom equipment, pose a security risk.

Despite that limitation, Huawei just became the world’s No. 2 seller of smartphones, still lagging Samsung but overtaking Apple for the first time. In the second quarter, Huawei sold 54.2 million units, while Apple sold 41.3 million, according to preliminary data from IDC’s “Worldwide Quarterly Mobile Phone Tracker” released yesterday (July 31)....MORE