News
Smartphone Production to Drop in Q1 of 2019
The global smartphone production volume for the first quarter of 2019 (1Q19) will come to 307 million units, showing a 10% year-on-year (YOY) drop, according to TrendForce.
Although there has been a decline in the price of components, TrendForce says smartphone makers have set modest production targets due to the lower-than-expected sales in the previous quarter.
TrendForce’s quarterly prediction appears to mirror its earlier estimates that the overall outlook in the global smartphone market will remain weak in 2019.
“The latest first-quarter production figures from the major smartphone makers indicate the top six brands by production volume for 1Q19, in order, will be Samsung, Huawei, Apple, Xiaomi, OPPO and Vivo.”
The market research firm highlights that Samsung, which is still the market leader, began adjusting its product strategy in the second half of 2018 to challenge the Chinese brands head-on in the market segment for economically priced but high-spec devices.
As a result, TrendForce expects Samsung’s total volume for 1Q19 will reach 70 million units.
“In the future, Samsung is expected to raise the production of the Galaxy A devices so that they will gradually substitute the Galaxy J devices as the brand’s mainstream offerings. In emerging markets such as India, Samsung plans to heavily promote the newly established Galaxy M series that feature large-capacity batteries.
“These actions, taken together, imply Samsung is redefining its brand image to adapt to the challenges from the Chinese rivals and maintain its advantage in market share.”
Despite the market pressure, Huawei will continue to perform well, says TrendForce. Last year, Huawei rose in global rankings by ousting Apple to become the second biggest smartphone maker.
“Its total production volume for 1Q19 is forecast to increase by nearly 10% YOY to 46 million units. Besides having extensive product lines and establishing a strong presence in overseas markets, Huawei has also succeeded in wresting market share away from iPhone in the high-end segment in China with its P and Mate series.”
TrendForce believes the US-China trade war is likely to bear some influence on Huawei’s smartphone business. “In Europe, Huawei’s presence as a provider of telecom equipment has also come under suspicion. These issues will likely have some adverse effects on Huawei’s performance in the smartphone market.”
The Apple brand, according to TrendForce, will be in third place of the production ranking in 1Q19.
Based on its performances in the first quarter so far, TrendForce expects Apple’s total iPhone production volume for the period will come to just 41.5 million units, registering a YOY decline of nearly 26%.
“Apple has been reported to have consistently marked down their iPhone production targets since 4Q18 in order to control its inventory. To stimulate purchases, the company has also lowered the prices of the latest models for some regions in the current quarter.
“Apple’s pricing strategy as a whole is not conducive to driving iPhone sales in the present market environment. Furthermore, the sales ban on older iPhone models in China will deny Apple a sizable portion of consumer demand.”
After eight consecutive quarters of growth, Chinese smartphone brand Xiaomi’s smartphone production registered its first decline in 4Q18, falling to 30 million units, says TrendForce.
For 1Q19, Xiaomi’s smartphone production is expected to drop, with total volume falling by 12% YOY to around 26 million units.
“The greatest challenge faced by Xiaomi currently is the lack of R&D into cutting-edge technologies and too much focus on low-price devices with thin margins. On one hand, Xiaomi has to rely more on marketing to drive sales of devices. On the other hand, thin margins can limit the profit gains that can be ploughed back to R&D. The situations result in more resources going to marketing and less going to R&D, forming a vicious circle.”
The research firm notes Xiaomi is trying to remedy the aforementioned problems by recruiting more R&D talent and adjusting the market positioning of its subsidiary brands to retain overall market share.
Mobility technology company, Moove has raised $250 million in a Series C funding round at a valuation of $2.1 billion, reaching unicorn status.
The startup will deploy the fresh capital to build out autonomous vehicle infrastructure, expand fleet ownership, construct robotics-focused “Nests” for charging and maintenance, and grow its autonomous workforce from 150 to 500 by year-end.
The company plans to enter additional global markets, reflecting a strategy to build the operational infrastructure required for large-scale autonomous transportation rather than simply supplying vehicles.
Led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific, the round also included new investors BlueCrest Capital Management, Sona Asset Management and The Raptor Group, alongside existing backers BlackRock, MUFG, Franklin Templeton and Uber.
“Autonomous mobility is becoming an infrastructure race requiring fleets, charging systems, maintenance, data infrastructure and continuous city-level operations,” said Ladi Delano, co-founder, co-CEO and advisory board chairman of Moove.
Founded in Lagos in 2020, Moove has grown into a global mobility platform employing about 3,300 people across 29 cities in 13 countries, operating approximately 42,000 vehicles and reaching $420 million in annualised recurring revenue.
It has expanded organically and through acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan. Moove also operates autonomous vehicle fleets in partnership with Waymo in Phoenix and Miami, with London expected to join its footprint.
The $2.1 billion valuation places Moove among Africa’s small group of tech unicorns, alongside Flutterwave, OPay, Moniepoint, Andela, Chipper Cash, Wave, Tyme, MNT-Halan and Interswitch.
The $250 million round is the largest single funding deal announced by an African startup this year, though EV mobility firm Spiro raised $270 million cumulatively across two separate rounds.
Heirs Life Assurance, the specialist life insurance company of Heirs Insurance Group, has appointed Pastor Jerry Eze as an Independent Non-Executive Director on its Board, effective August 10, 2026.
L – R: Tony Elumelu, Chairman, Heirs Life Assurance; Pastor Jerry Eze, incoming director, Heirs Life Assurance
The appointment reinforces Heirs Life Assurance’s commitment to expanding financial inclusion and accelerating insurance adoption by strengthening public trust, consumer education, and long-term financial resilience across Nigeria.
Despite being Africa’s largest economy, Nigeria’s insurance penetration remains below one percent – among the lowest globally – highlighting the need to expand financial protection and build greater public trust in insurance.
As Heirs Life continues to pursue its mission of making insurance accessible to every Nigerian, Eze’s appointment brings a unique perspective on community engagement, value-based leadership, and broad societal impact.
Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a growing multinational ministry with 34 branches across West Africa, Southern Africa, Europe and North America.
He is also the convener of the New Season Prophetic Prayers and Declaration (NSPPD), one of the world’s largest digital prayer platforms, reaching millions of people daily. Through his ministry and humanitarian initiatives, he has become one of Africa’s most influential voices, championing hope, compassion, and community transformation.
Beyond ministry, Eze is the Founder of the Jerry Eze Foundation, a faith-led philanthropy where he provides housing support and grants to vulnerable and underserved communities.
In 2026, he announced N1billion in grants to support young entrepreneurs across agriculture, technology, and manufacturing, further advancing enterprise development and economic opportunity.
Before entering full-time ministry, Pastor Jerry Eze built a career in development communications, serving as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA).
He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.
Speaking about the appointment, Tony O. Elumelu, CFR, Chairman, Heirs Life Assurance, said: “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities.
“As we continue our mission to democratise access to insurance, his insight will help strengthen consumer trust, deepen financial inclusion, and reinforce our commitment to protecting the financial future of millions of Nigerians.
“We are delighted to welcome him to the Board of Heirs Life Assurance and the broader family of Heirs Insurance Group.”
Commenting on his appointment, Pastor Jerry Eze said: “I am honoured to join the Board of Heirs Life Assurance at a defining moment for the insurance industry. Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience.
“I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”
Heirs Life Assurance has become one of Nigeria’s leading specialist life insurance companies, ranking 7th on the Financial Times list of Africa’s fastest-growing companies.
It is one of the three insurance businesses of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.
Combining an omni-channel digital presence with physical branches spread across the country, Heirs Life continues to redefine life insurance through innovation, customer-centric solutions, and a commitment to making financial protection accessible to every Nigerian.
Heirs Insurance Group, comprising Heirs Life Assurance, Heirs General Insurance, and Heirs Insurance Brokers, collectively serves over 3 million people directly and indirectly.
The Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
The World Bank Group has announced the 31-month debarments of United Aviation Services Limited (UNASEL), a transportation services company based in Nigeria, and Air Vice Marshal Alkali Mamu, its owner and president, “in connection with fraudulent practices under the Enhancing Niger Northeastern Connectivity Project,” according to a press release issued by the multilateral development bank.
The statement said that the project aims to enhance connectivity and road safety along the Zinder-Agadez Road section and improve access to basic socioeconomic infrastructure for selected communities in that road section.
However, according to the statement: “UNASEL and Mr. Mamu presented false experience documents in a prequalification application to qualify for a contract under the project. This was a fraudulent practice under the World Bank’s sanctions framework.”
“The debarments make UNASEL and Mr. Mamu ineligible to participate in projects and operations financed by Bank Group institutions. The debarments are part of two settlement agreements under which UNASEL and Mr. Mamu admit culpability for the underlying sanctionable practices,” it added.
The statement further said: “Per the Bank Group Sanctioning Guidelines, the settlement agreements provide for a reduced period of debarment in light of UNASEL and Mr. Mamu’s cooperation.
As a condition for release from sanction under the terms of the settlement agreements, UNASEL and Mr. Mamu commit to developing and implementing integrity compliance measures that reflect the relevant principles set out in the Bank Group Integrity Compliance Guidelines, and Mr. Mamu further agrees to complete corporate ethics training.
UNASEL and Mr. Mamu also commit to continue to fully cooperate with the Bank Group’s Integrity Vice Presidency.
“The debarments of UNA SEL and Mr. Mamu qualify for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.”
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