Samsung tops the global smartphone market; Lenovo records historic highs in both revenue and profit

Here are our editor's picks of the most important technology stories across emerging markets in the past week.

This week, Techloy covered Lenovo's record revenue and profit figures, Google's Black Founders Fund in Africa program, and Samsung's smartphone sales growth.

Plus, a round-up of the top venture funding deals in emerging markets, with charts that illustrate the stories, curated by @Afolabij1, our latest staff writer.

Here are our editor's picks of the most important technology stories across emerging markets in the past week.

  • Chinese phone manufacturers, Oppo, Vivo, and Xiaomi, will cut their smartphone order volume by 20% from July 2022, citing disrupted supply chains and weakened demand as reasons for the supply reduction, amidst coronavirus lockdowns in China.
  • Elon Musk’s satellite internet service SpaceX’s Starlink now has more than 400,000 subscribers around the world.
  • Samsung’s smartphone sales grew 9% year on year in April 2022, capturing 24% of the global smartphone market, making it the highest monthly market share for the South Korean electronics giant since April 2017, according to Counterpoint Research.
  • Chinese technology giant Lenovo has announced record fiscal year results with historic highs in both revenue & profit. The company's annual net income reached $2 billion, up 72% year on year, with revenue growing by $10 billion for the second year running to over $71 billion.
  • Google for Startups, a Google initiative giving access to equity-free funding to Black-founded startups in Africa, will be expanding its support for the $4 million Black Founders Fund program with an additional $1 million in funding.
  • Consumer spending on video games is expected to reach $222 billion globally in 2022, with mobile gaming accounting for more than 61% of the total, according to IDC and Dataai.
  • Chinese ride-hailing giant DidiGlobal’s shareholders have agreed to delist from the New York Stock Exchange, as the company prepares for an Initial Public Offering (IPO) in Hong Kong.
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