Huawei's cell phone business has plummeted due to US sanctions. According to a report released by market research firm Omdia, Huawei shipments continue to decline, with 9.8 million units shipped in the second quarter of this year, down 74.6 percent year-on-year and 33.3 percent sequentially.

In the first half of the year, Huawei still maintained sixth place globally with 24.5 million shipments. However, compared with the same period last year, it is still a significant decline of 66.9%.

Huawei has stated that it will not give up the cell phone business and will find ways to maintain operations. Huawei has reportedly found alternatives to the European and American markets, which are developing countries in Africa and the Middle East.

Under the current crackdown, Huawei is temporarily unable to support 5G cell phones. Since 4G is still dominant in the global market, Huawei still got plenty of market space.