China's Huawei says revenue down 2.2% so far this year
Figures reported by Chinese tech giant Huawei indicate its revenue rose in the latest quarter as infrastructure sales helped to offset damage to its smartphone business from U.S. sanctions
BEIJING (AP) — Chinese tech giant Huawei’s revenue rose in the latest quarter as infrastructure sales helped to offset damage to its smartphone business under U.S. sanctions, according to figures released Thursday.
Revenue in the first nine months of 2022 declined 2.2% from a year earlier to 445.8 billion yuan ($63.1 billion), according to the company, the biggest maker of network gear for phone and internet carriers. Based on data released earlier, that suggested third-quarter revenue rose 6.5% from a year ago to 144.2 billion ($19.9 billion).
Huawei Technologies Ltd., China’s first global tech brand, has struggled since then-President Donald Trump blocked access to U.S. processor chips and other technology in 2019. The company denies American accusations it is a security risk and might facilitate Chinese spying.
Huawei has stepped up development of network technology for autos, hospitals, mines and manufacturing. It says that is less vulnerable to U.S. sanctions.
