SHENZHEN, China, Aug 29 (Reuters) - Chinese tech giant
Huawei reported hefty jumps in first-half revenue and
net profit on Thursday, with smartphone sales robust and its
smart car components business also doing well despite U.S.
sanctions.
Net profit for January to June climbed 18% to 54.9 billion
yuan ($7.7 billion) on a 34.3% rise in revenue to 417.5 billion
yuan. It was the company's highest revenue for a first half
since the same period in 2020.
Huawei did not give an earnings breakdown for individual
units, but a spokesperson said its mainstay consumer business,
which includes smartphones and PCs, as well as its smart car
components unit, performed strongly.
Data from research firm Canalys shows Huawei shipped 22.2
million smartphones in mainland China during the first half, a
55% increase from a year earlier.
Huawei jumped back into the 5G premium smartphone market
last year with its Mate 60 series and this year with its
high-end P series phones - though most of these sales remain
confined to its home market.
The launches have been celebrated in China as a triumph over
U.S. sanctions that have, since 2019, prevented the company from
accessing advanced U.S. chips and other technology.
Washington sees Huawei as a national security risk - a
charge that the company denies. U.S. sanctions have since
broadened out to encompass export bans on highly advanced U.S.
chips to all Chinese firms with Washington seeking to impede
advances in technology for China's military.
Over the last four years, Huawei has also seen remarkable
growth for its Intelligent Automotive Solution unit, which wants
to become the dominant supplier of software and components for
smart electric vehicles and has clinched deals with many
automakers.
Huawei's information and communications tech
infrastructure, cloud, and digital power divisions put in a
steady performance, the spokesperson said, adding that
first-half profits were not boosted by the sale of businesses or
assets as they were in the same period last year.
($1 = 7.1165 Chinese yuan)