Huawei’s Marquee Phone Launch Spurs Hunt for China Tech Winners
- New Mate 60 Pro is powered by the best made-in-China chip yet
- Device went on sale with zero fanfare during Raimondo visit
Huawei’s new Mate 60 Pro smartphone.
Photographer: James Park/BloombergThe low-profile yet surprising release of a new phone by Huawei Technologies Co. last week has sparked a hunt for potential beneficiaries, on the bet it represents a jump forward in China’s domestic chipmaking.
Traders and investors have piled into China’s biggest chipmaker, Semiconductor Manufacturing International Corp., adding more than $5 billion to its market value since the start of last week and accelerating its surge on Monday after a teardown for Bloomberg News revealed Huawei is using SMIC’s chips.
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Huawei’s Marquee Phone Launch Spurs Hunt for China Tech Winners