Huawei reports biggest ever revenue drop as consumer growth engine stutters
The Hindu
Revenue also fell 14% in the first half from Huawei's telecoms equipment business, which a spokesperson said was partially down to the slowdown in China's 5G rollout.
Chinese telecommunications giant Huawei Technologies reported its biggest ever revenue drop in the first half of 2021, after U.S. sanctions drove it to sell a chunk of its once-dominant handset business and before new growth areas have fully matured. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) The company generated revenue of 320.4 billion yuan ($49.56 billion), it said on Friday.
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Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
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