Chinese tech giant Huawei said its sales fell in the first half of 2022, but new ventures in auto and other industries helped offset a decline in smartphone sales due to US sanctions.
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The turnover of the Chinese company fell by 5.9% compared to last year — to $44.8 billion.
It will be recalled that in 2019 the USA imposed sanctions against Huawei, blocking the company’s access to American chips and other technologies. After that, Huawei intensified the development of network technologies for cars, hospitals, mines and manufacturing. The company says it is now less vulnerable to US sanctions.
“Despite the fact that our device manufacturing business has been severely affected, the ICT infrastructure business has maintained steady growth,” said Huawei’s top manager.
Sales of Huawei’s smartphone division fell 25.3% year-on-year to $15 billion. At the same time, sales of network equipment to telecommunications operators and companies increased. The automotive division of the company also helped.
“Any measure that restricts global industry cooperation makes scientific and technological innovation very difficult,” Huawei said in a statement.