News Snapshot:
(Reuters) – Chinese handset rivals of Huawei Technologies including Xiaomi, Oppo and Vivo are making aggressive moves to seize market share from their giant rival, after stepped-up U.S. sanctions hobbled Huawei’s supply chains, industry insiders say. Last week Huawei said it has sold its budget Honor subrand for an undisclosed figure in a bid to safeguard the latter’s supply chain from U.S. action, which has made it difficult to source essential components. All the same, Huawei’s Chinese rivals smell blood in the mid-to high-end phone market. In August a Huawei executive said the company will not be able to produce...
