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Huawei's revenue loss slows down amid Cloud push
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IANS | 12 Aug, 2022
Chinese
conglomerate Huawei on Friday posted nearly 6 per cent loss in revenue
for the first six months of the year and its device business, which
includes smartphones, fell 25.4 per cent amid US sanctions on chip
technology.
Huawei generated 301.6 billion Yuan ($44.7
billion) in revenue, with a net profit margin of 5 per cent, which was
"in line with the forecast" and the pace of revenue loss slowed down as
the company doubled down on its Cloud business.
"While our device
business was heavily impacted, our information and communications
technology (ICT) infrastructure business maintained steady growth," said
Ken Hu, Huawei's Rotating Chairman.
"Moving forward, we will
harness trends in digitalisation and decarbonisation to keep creating
value for our customers and partners, and secure quality development,"
he said in a statement
The network gear business, which sells to
telecommunications network operators, grew 4.24 per cent to 142.7
billion yuan (about $21 billion).
The cloud business has achieved
"healthy" sales in the first half of 2022, said William Dong, president
of Huawei Cloud Marketing.
"Profitability is not a priority for
us. We will continue to increase our investment in artificial
intelligence and other technologies that can help our clients improve
efficiency," said Dong.
In a bid to take on tech giant Google's
Android operating system amid the ongoing US sanctions, Huawei late last
month unveiled an upgraded version of its own operating system --
HarmonyOS 3.
The third-generation operating system is designed to
provide a more seamless experience across devices, including
smartphones, tablets, printers, cars and smart home devices such as
televisions.
The company said that HarmonyOS 3 will be available to more devices starting in September.
Huawei
debuted the original HarmonyOS in August 2019, three months after the
firm was added to US's trade blacklist, preventing it from buying
software, chips and other technologies from US companies.
Soon after the ban was announced, Google stopped providing its suite of mobile software services to Huawei.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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| Daily Poll |
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