Posted inChina

Huawei’s profits collapse as US sanctions bite

Huawei Technologies, the Shenzhen-based telecommunication equipment maker, has announced a change in business strategy to focus more on the bottom line than generating revenue after its net margin declined by nearly 50% in the first half of 2022 compared to the same period last year. Huawei’s founder, Chief Executive Ren Zhengfei, wrote in an internal […]