Despite U.S. sanctions, Huawei Technologies Co is making a bold move to reclaim its position in the premium electronics market in China. The company is aggressively expanding its retail presence, posing a direct challenge to Apple Inc (NASDAQ:AAPL).
What Happened: Huawei has opened four flagship stores in China since December. These stores, located in major Chinese cities, are part of Huawei’s strategy to regain its foothold in the lucrative Chinese smartphone market, Reuters reported on Wednesday.
These stores, some of which are located near Apple’s flagship stores, are a significant shift from Huawei’s previous reliance on licensed distributors. The company is bouncing back from U.S. sanctions imposed in 2019, which severely impacted its smartphone business.
Apple currently operates 47 stores across mainland China, while Huawei, which opened its first flagship store in 2019, now has 11 stores in the region.
“I think they will open more than 20 of them. Then it ...