Huawei is sanctioned by the US with a fall in profit, believing lacking a key factor.
#Mengwenzhou, the deputy chairwoman and CFO of #Huawei, once again showed up at the group performance meeting after returning to #China.
Under the #US sanction on Huawei and the shortage of chips, Huawei's income in the previous year was reduced by almost 30%, to around 637 billion dollars (in RMB, same below). It is the first fall in the revenue since the record was publicised.
Last year's net profit raised by 75.9%, to 113.7 billion dollars, in which, the sale of a smartphone department to a government-led consortium took account of around 57.4 billion dollars. With a subsidy of 2.57 billion dollars from the government, a total of 60.8 billion dollars of other income was recorded, increasing 87 times from the previous year, being the reason for net profit.
With the deduction of the other income, the net profit was slightly higher than 52.9 billion dollars, reduced by almost 20% year-to-year.
According to the data from a market research organisation, Omdia, Huawei shipped 35 million smartphones only, which plunged by 81.6% from the previous year. The market share fell from 14.7% in 2020 to 2.6% in 2021.
Huawei's consumer business resulted in a hit, and the revenue was reduced by 49.6% from last year to 243.4 billion dollars.
Source: ChannelC #Mar29
https://bit.ly/3wJkfca
#Mengwenzhou, the deputy chairwoman and CFO of #Huawei, once again showed up at the group performance meeting after returning to #China.
Under the #US sanction on Huawei and the shortage of chips, Huawei's income in the previous year was reduced by almost 30%, to around 637 billion dollars (in RMB, same below). It is the first fall in the revenue since the record was publicised.
Last year's net profit raised by 75.9%, to 113.7 billion dollars, in which, the sale of a smartphone department to a government-led consortium took account of around 57.4 billion dollars. With a subsidy of 2.57 billion dollars from the government, a total of 60.8 billion dollars of other income was recorded, increasing 87 times from the previous year, being the reason for net profit.
With the deduction of the other income, the net profit was slightly higher than 52.9 billion dollars, reduced by almost 20% year-to-year.
According to the data from a market research organisation, Omdia, Huawei shipped 35 million smartphones only, which plunged by 81.6% from the previous year. The market share fell from 14.7% in 2020 to 2.6% in 2021.
Huawei's consumer business resulted in a hit, and the revenue was reduced by 49.6% from last year to 243.4 billion dollars.
Source: ChannelC #Mar29
https://bit.ly/3wJkfca
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