SHENZHEN, China: Huawei Technologies said upon Friday (Aug 12) its first-half net profit more than halved as a difficult economic climate curtailed demand from customers, compounding woes brought by U. T. technology restrictions.
Revenue dropped 5. 9 percent year-on-year during the time period to 301. 6 billion yuan (US$44. 73 billion), using a sharper decline during January-March.
“While our device business was heavily impacted, our ICT infrastructure business maintained continuous growth, ” mentioned Ken Hu, Huawei’s rotating chairman, mentioning its business to business enterprise unit.
The Chinese technologies firm’s profit margin narrowed to five per cent, with an internet profit of 15. 08 billion yuan, according to Reuters computations, down from 31. 39 billion yuan in the first half 2021.
The weak economy, COVID-19 disruptions and supply string challenges hurt you can actually device business that sells smartphones plus laptops, a company spokesperson said.
Income from that business slumped by more than a quarter to tips. 3 billion yuan. Its carrier plus enterprise businesses both saw growth.
Huawei also increased investment into new-technology and businesses, which usually impacted profit.