Huawei phone prices rise in China on fears of chip shortage

Chinese consumers are rushing to buy smartphones from Huawei Technologies Co Ltd featuring its high-end Kirin chips, fearing curbs on the firm’s access to US technology will soon cut off production of its premium handsets.

Phone vendors in Huaqiangbei, the world’s largest electronics market located in the southern city of Shenzhen, said prices for new and used Huawei phones had risen steadily over the past month, by around 400 to 500 yuan on average.

The Porsche design model of Huawei’s flagship Mate 30 was selling for 14,000 yuan ($2,067), from 10,000 yuan in January, one vendor said. The phone was available at a similar price on online marketplace Taobao.

Consumers are increasingly worried over the supply of components for newer handsets, said one vendor.