Highlights of the day: Smartphone sales rise sharply in China

Smartphone sales in China rose sharply in April on a sequential basis following weeks of stagnant demand amid the coronavirus outbreak. While strong momentum has been seen in the 5G segment, massive migration to 5G phones in China's handset market has yet to take place. Huawei may be able to remain in first place in China's handset market, but its peers, such as Xiaomi and Oppo, stand to reap benefits from fresh US trade sanctions on the top Chinese vendor. The latest US-China trade row has also prompted Apple to have its manufacturing accelerate their iPhone production relocation out of China.

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