Companies
Huawei revives as smartphone profits soar in first-half
OUR TAKE Since 2019, U.S. sanctions have prevented Huawei from gaining access to advanced American chips and other technology. Washington sees Huawei as a national security risk – a charge the company denies. Since then, U.S. sanctions have expanded to ban the export of highly advanced American chip…
Headline
OUR TAKE Since 2019, U.S. sanctions have prevented Huawei from gaining access to advanced American chips and other technology. Washington sees Huawei as a national security risk – a charge the company denies. Since then, U.S. sanctions have expanded to ban the export of highly…
Context
OUR TAKE Since 2019, U.S. sanctions have prevented Huawei from gaining access to advanced American chips and other technology. Washington sees Huawei as a national security risk – a charge the company denies. Since then, U.S. sanctions have expanded to ban the export of highly advanced American chips to all Chinese companies. Washington is trying to block China’s advances in military technology. –Zora Lin, BTW reporter Chinese tech giant Huawei reported a sharp rise in first-half revenue and net profit on strong smartphone sales on Thursday, while its smart car parts business also performed well despite U.S. sanctions.
Evidence
Pending intelligence enrichment.
Analysis
Net profit for the January-June period climbed 18% to $7.7 billion, while revenue rose 34.3% to $58.9 billion. This is the company’s highest first-half revenue since the same period in 2020. Huawei did not provide a breakdown of earnings by unit, but a spokesman said its main consumer business, which includes smartphones and personal computers, as well as its smart car parts division, performed strongly. Huawei has returned to the 5G premium smartphone market with the launch of its Mate 60 series phones last year and its high-end P series phones this year, although sales of these phones are still mostly limited to the domestic market. Also read: China’s BYD collaborates with Huawei on autonomous driving
Key Points
- Chinese tech giant Huawei on Thursday reported a surge in first-half revenue and net profit on strong smartphone sales.
- Canalys’ data shows that in the first half of the year, Huawei’s smartphone shipments in mainland China reached 22.2 million units, a year-on-year increase of 55%.
Actions
Pending intelligence enrichment.
