Reported about 14 hours ago
Huawei reported a 32% drop in net profit for the first half of the year, falling to 37 billion yuan, despite a 4% increase in revenue to 427 billion yuan. The decline is attributed to the company's significant investment in research and development, which rose to 96.9 billion yuan, as it seeks to mitigate the effects of ongoing U.S. sanctions and re-enter the 5G smartphone market.
Source: YAHOO