Tech giant Huawei's first-quarter profits surged over fivefold year-on-year, a company filing showed Tuesday, as the US-sanctioned firm continues a rebound and bit into competitor Apple's sales in China.
giant Huawei's first-quarter profits surged over fivefold year-on-year, a company filing showed Tuesday, as the US-sanctioned firm continues a rebound and bit into competitor Apple's sales in China.
Sanctions imposed by Washington in 2019 restricting the company's access to US-made components greatly inhibited Huawei's production of smartphones at the time. Net profit in the January-March period amounted to $2.7 billion, up 564 percent from the first quarter of last year, according to a results filing by Huawei's holding company on an official website and confirmed by a representative of the firm.Click “See First” under the “Following” tab to see Briefly News on your News Feed!
In an apparent snub to Washington, the Mate 60's August 2023 announcement coincided with a visit to China by Gina Raimondo, head of the US Department of Commerce which was responsible for the sanctions.saw iPhone sales slump by 19 percent in the first quarter in China, Bloomberg reported, citing market research firm Counterpoint.
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