Displaying items by tag: US sanctions

Telecommunications equipment provider Huawei generated ¥35.6 billion (US$5.18 billion) in net profits for 2022 representing a 69% year-in-year decline—the biggest annual decline yet as the US slapped sanctions on its business and tough pandemic regulations in China affected its operations, according to a CNBC report.

Chinese telecommunications equipment vendor Huawei Technologies has seen its revenue for the first quarter of 2021 fall by 16.5% year-on-year to 152.2 billion yuan (A$30.5 billion), which the company said was as per its forecast.

Chinese telecommunications equipment vendor Huawei technologies has again managed to record an annual profit despite the US sanctions it faces, with the company announcing a 64.6 billion yuan (A$12.98 billion) profit for 2020, an increase of 3.2% year-on-year. Revenue was 891.4 billion yuan, an increase of 3.8% on the previous year.

Chinese telecommunications equipment vendor Huawei Technologies will earn between US$1.2 billion (A$1.54 billion) and US$1.3 billion from licensing its 5G patent portfolio between 2019 and 2021, the company has announced.

Chinese telecommunications equipment vendor Huawei Technologies has sold its budget smartphone business, Honor, to Shenzhen Zhixin New Information Technology for an unspecified sum.

Despite the US taking steps to try and curtail its business, Chinese telecommunications equipment vendor Huawei Technologies has overtaken South Korean conglomerate Samsung Electronics to become the world's biggest in smartphone shipments for the first time, in the second quarter of 2020.

Chinese telecommunications equipment vendor Huawei Technologies has informed some of its suppliers to hold off on production for its next flagship device following fresh US moves to crack down on the company and disrupt its access to semiconductors.

Lawyers handling the case of Huawei chief financial officer Meng Wanzhou, who was detained in Vancouver on 1 December on a US request, will seek to portray the extradition request made by Washington as an abuse of the Canadian legal process and due to political reasons.