Huawei First Half Profit Falls 36 Percent
Huawei Technologies reported a thirty-six percent drop in first half net profit due to soaring input costs and heavy research and development spending. Revenue rose nearly ten percent despite ongoing pressures from US sanctions and chip price increases.
Insights:
Huawei Technologies reported a 36% plunge in first-half net profit to 23.81 billion yuan ($3.54 billion) on Monday amid soaring input costs and heavy R&D spending. The drop accelerates from a 32% decline in the same period a year earlier, despite a 9.6% rise in revenue to 467.82 billion yuan. The results highlight the heavy financial toll of replacing foreign technology and expanding artificial intelligence capabilities under prolonged Western export curbs.
