Industry News – 8-2-18

Number 2….for now. Market research firm IDC announced this week that Huawei has leapt over Apple to become the world’s second largest smartphone provider (behind Samsung) even though the company is not a player in the U.S. IDC analyst Ryan Reith said that the lofty position may not hold for the Chinese company since Apple will unveil its new models later this year and will rightly expect a bump in sales. It’s tough to feel too bad for Apple, which yesterday became the first U.S. company to reach a market cap of $1 trillion.