Huawei Posts Surprise Loss After US Sanctions Spur Tech Research
A visitor checks out a Huawei smartphones in a store in Kuala Lumpur.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
Huawei Technologies Co. posted its first quarterly net loss in years after the company spent aggressively on research in areas from EVs to chips while the business as a whole slowed.
The Shenzhen-based networking and electronics leader reported a 9.5% rise in revenue to about 276 billion yuan ($38.1 billion) in the December quarter, according to Bloomberg’s calculations based on annual results. That follows a string of double-digit increases, fueled by the growing popularity of its Mate devices at the expense of Apple Inc.