Huawei recorded revenue of RMB 35.6 billion (~RM 22.9 billion) which is equivalent to a 69% reduction compared to 2021. This is Huawei's biggest revenue drop since 2011. The impact of technology restrictions imposed by the United States and its allies can be clearly seen here.
According to Huawei, other effects that caused profits to decline were the increase in commodity costs, tight pandemic controls in China and sales of Honor in 2021. But not all is bad for Huawei in 2022.
The enterprise business recorded a 30% increase in revenue with RMB 45.3 billion generated by growing cloud services. Their efforts in the automotive world have generated RMB 2.1 billion so far and are growing. The device business only shrank by 11% which is lower than the decline in 2021.
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BUSINESS & MONEY