China’s Huawei says sales down but new ventures growing
2 years, 4 months ago

China’s Huawei says sales down but new ventures growing

Associated Press  

BEIJING — Chinese tech giant Huawei said Friday its revenue fell in the first half of 2022 but new ventures in autos and other industries helped to offset a decline in smartphone sales under U.S. sanctions. Huawei Technologies Ltd., China’s first global tech brand, has struggled since then-President Donald Trump blocked access to U.S. processor chips and other technology in 2019. Sales by Huawei’s device unit, which includes smartphones, fell 25.3% from a year earlier to 101.3 billion yuan. Also Friday, Huawei expressed concern about a new U.S. law, the “CHIPS and Science Act,” which promises aid to companies that invest in processor chip production in the United States.

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