Huawei Net Income Falls 36% Amid Rising Memory Costs
· Business · Bloomberg, Yahoo Finance, Economic Times
Huawei Technologies Co. reported a 36% decline in net income for the first half of the year, bringing its profit to 23.81 billion yuan, or approximately $3.54 billion. The company attributed this downturn to increased memory costs and higher expenditure on semiconductor research. Despite the profit drop, revenue grew 10% to 468 billion yuan during the same period. Huawei invested 121 billion yuan into research and development to bolster its semiconductor capabilities.
Why it matters
The profit decline highlights the financial pressure Huawei faces as it navigates rising component costs and heavy investment in domestic chip technology amid international trade restrictions.
Read the original report — Bloomberg
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