Huawei has reported its first-half net profit to have more than halved as a difficult economy curtailed demand from customers. To add, the US has also issued technology restrictions on the Chinese company. Huawei’s revenue dropped 5.9 percent year-on-year during the period, with a sharper decline during January-March.
Huawei said on Friday its first-half net profit more than halved as a difficult economy curtailed demand from customers, compounding troubles brought by US technology restrictions.
Revenue dropped 5.9 percent year-on-year during the period to CNY 301.6 billion (roughly Rs. 3.6 lakh crore), with a sharper decline during January-March.
« While our device business was heavily impacted, our ICT infrastructure business maintained steady growth, » said Ken Hu, Huawei’s rotating chairman, referring to its business-to-business enterprise unit.
