Huawei falls off Samsung Electronics top-5 customer list

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Huawei falls off Samsung Electronics top-5 customer list

Huawei is no longer one of the top five customers of Samsung Electronics after being on that list for two years running.

Apple, AT&T, Deutsche Telekom, SoftBank and Verizon are now the biggest buyers of products from the Korean company, according to a first-quarter business report released by Samsung Electronics on Friday.
Huawei was in the top five in 2017 and 2018. Apple, AT&T, Deutsche Telekom, SoftBank and Verizon were the top five customers for Samsung Electronics last year.
Best Buy, a U.S. electronics retailer similar to Lotte Hi-Mart in Korea, also failed to make the list. This is because the first quarter is usually off-season for IT products and also because the of coronavirus outbreak.
In the business report, Samsung Electronics said its five top customers account for 13 percent of total sales.
Verizon and AT&T are the two largest U.S. telecom companies. Deutsche Telekom is Europe's largest mobile carrier and also the parent company of T-Mobile, the third-largest U.S. telecom company. Much of the sales to them were purchases of the Galaxy S20.  
Apple made it to the top five customer list buying memory semiconductors that are used in iPhones and iPads. Huawei reduced purchases of memory semiconductors such as DRAMs, as most manufacturing plants in China stopped operating in January and February due to the coronavirus. 
Changes are expected in the rankings in the second quarter as the merger of T-Mobile and Sprint was approved in February. Deutsche Telekom, the parent company of T-Mobile, will be the top shareholder of the merged entity with a stake of around 43 percent. SoftBank has about 24 percent of the combined entity but will not consolidate the results.
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