Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Pictured here on July 8, 2022, is a Huawei flagship store in Shenzhen, Guangdong province of China.
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BEIJING — Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020.
Huawei has come under pressure in the previous couple of years from U.S. sanctions. Last yr, Huawei reported its first annual revenue decline on record.
Nonetheless, the corporate’s latest figures showed second-quarter revenue of 170.6 billion yuan ($25.5 billion), up by 1.4% from a yr ago, in response to CNBC’s calculations.
That is after an almost 14% plunge in year-on-year revenue in the primary quarter, and double-digit declines for each quarter going back to the third quarter of 2020. Revenue rose by 3.7% from the identical period in 2019 to 217.3 billion yuan, the outcomes showed.
Nonetheless, for the primary six months of 2022, revenue still declined — albeit by a narrower 5.9% pace.
Of its three important business segments, Huawei’s enterprise unit — which incorporates cloud and business services — posted essentially the most revenue growth, up by about 28% to 54.7 billion yuan in the primary half of the yr.
Huawei didn’t release a quarterly breakdown of revenue by business segment.
The corporate’s carrier business remained by far the biggest, with year-on-year growth of 4% to 142.7 billion yuan in the primary six months of 2022.
The device business continued to suffer from falling smartphone sales. Segment revenue plunged by 25% in the primary half of the yr to 101.3 billion yuan.
Huawei’s enterprise into electric cars falls mostly under the device business unit, in response to the corporate.
More investment into automobile tech
Notably, Huawei has partnered with automaker Seres — a Silicon Valley-based subsidiary of Chongqing-based automobile manufacturer Sokon — to supply the operating system for a recent automobile brand called Aito.
The corporate announced that one other vehicle, the M7, is ready to start deliveries this month.
Read more about electric vehicles from CNBC Pro
Huawei said it plans to extend investment into its autos-related business this yr, with 2,000 more engineers than last yr and $500 million more in investment.
That brings this yr’s expected total to $1.5 billion in research and development investment in autos-related business and a staff of seven,000 engineers.