Shenzhen 12 August : Chinese conglomerate Huawei on Friday reported a nearly six percent of a loss in revenue in the first six months of the year.In addition, its device business which includes smartphones declined 25.4 percent due to US sanctions against chip technology.Huawei reported 301.6 billion Yuan ($44.7 billion) in revenue, with a net profit margin of 5 percent which was “in the range with the expectations” and the rate of revenue loss has slowed as the company stepped up its efforts in the Cloud business.
“While the device segment of our business was severely affected but our information and communications technology (ICT) infrastructure business continued to experience an increase in growth” claimed Ken Hu Huawei’s Rotating Chairman.
“Moving forward we will leverage the latest trends in digitization and decarbonisation so that we can create value for our partners and customers and ensure high-quality advancement,” he said in an announcement.
The business of network gear which sells to operators of telecommunications networks increased 4.24 percent to 142.7 billion yuan (about $21 billion).
Cloud-based business has seen “healthy” revenue in the first quarter of 2022, according to William Dong, president of Huawei Cloud Marketing.
“Profitability isn’t a top priority for us.We’ll continue invest more in artificial intelligence as well as other technology that will aid our clients in improving their effectiveness,” said Dong.
In an effort to compete with Google’s Android operating system in the midst of current US sanctions, Huawei late last month revealed an upgraded version of its own operating system called HarmonyOS 3.
The operating system of the third generation is designed to give users an improved experience across devices, such as printers, tablets, smartphones cars, and smart home devices, such as televisions.
The company announced it was announcing that HarmonyOS 3 will be available to more devices beginning in September.
Huawei introduced the original HarmonyOS in August of 2019 about three months following the company was added to the US’s trade blacklist, which barred it from purchasing chips, software, and other tech from US companies.
Shortly after the announcement of the ban, Google stopped providing its suite of mobile software services to Huawei.
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