Huawei’s First Half Profit Drops Amid US Technology Restrictions, Curbs

Huawei said on Friday its first-half net profit more than halved as a difficult economy curtailed demand from customers, compounding troubles brought by US technology restrictions. Revenue dropped 5.9 percent year-on-year during the period to CNY 301.6 billion (roughly Rs. 3.6 lakh crore), with a sharper decline during January-March. “While our device business was heavily impacted, our … Read more