Huawei Profit Surges 564% As It Eclipses Apple in China
- Its smartphone shipments grew 70% in the first quarter
- The Shenzhen company is also offering AI chips to rival Nvidia
This article is for subscribers only.
Huawei Technologies Co.’s profit rose for the fourth consecutive quarter, a sign the Chinese tech company is taking market share from Apple Inc. and other smartphone rivals.
The Shenzhen-based company reported net profit of 19.6 billion yuan ($2.7 billion) in the March quarter, up 564%, according to a filing from Huawei’s holding company posted to the website of the National Interbank Funding Center in China.