Huawei’s profit halved in the first half
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Revenue of the Chinese technology corporation Huawei decreased in the first half of the year by 5.9%, having made 301.6 billion yuans ($44.8 billion). Such company data introduced on Friday. Huawei’s profit margin decreased from 9.8% in the first half of 2021 to 5%, the company’s net profit fell by 52% to 15.1 billion yuan ($2.2 billion).
Revenue of division on production of smartphones and other gadgets in the first half fell by a quarter, to 101.3 billion yuans ($33.6 billion).
The difficulties for the company began in 2019, after introductions US sanctions against it. These problems are now exacerbated by the impact of the pandemic and disruptions in supply chains. The lockdowns introduced in the spring in China itself also have a negative effect. Smartphone sales in China fell 14.2% in the second quarter, according to research firm Counterpoint Research.
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