Subj : Huawei ramps up R&D spending in mobile push
To   : All
From : TechnologyDaily
Date : Fri Mar 31 2023 16:45:03

Huawei ramps up R&D spending in mobile push

Date:
Fri, 31 Mar 2023 15:24:24 +0000

Description:
The goal was to stabilize the business in what was otherwise a very turbulent 
year.

FULL STORY
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Chinese telecoms giant Huawei has increased its spending on research and 
development (R&D), and hired additional staff, in an attempt to stabilize its 
business during a very turbulent 2022. 

During the companys earnings briefing in Shenzhen, earlier this week, the 
companys rotating chairs, Meng Wanzhou, and Eric Xu, said the companys goal 
for 2022 was sustainable survival and development as it sought to expand and 
optimize its business portfolio. 

Huaweis portfolio now includes ICT infrastructure, smart devices, cloud, 
digital power and intelligent automotive services. "Solid" finances 

When it comes to finances, however, Wanzhou said the business is solid, with 
strong resilience and flexibility. 

That being said, Wanzhou announced R&D investment rising 13.2% year-on-year, 
hitting a record high of $23.5 billion in 2022. Thats 25.1% of total revenue 
(compared to 22.4% a year before), she added. The company also brought in 
additional staff to its R&D department, bringing its headcount up 6.2%, to 
114,000. Now, R&D personnel takes up more than half of its entire workforce 
(207,000). Read more 

> Huawei expects major drop in phone sales due to US ban 


 > Huawei phone sales rise despite US supplier licence refusals 


 > These are the best Huawei phone deals right now 

At the same time, net profit went down 68.7% year-on-year, reaching $5.1 
billion. It is, however, worth mentioning that in 2021, Huawei sold its Honor 
sub-brand. No official figures were released, although the media were 
reporting that Huawei raked in $15.2 billion in the deal. 

Revenue was flat at $93.4 billion. 

Huaweis enterprise business grew by almost a third (30%), hitting $19.37 
billion, while its consumer business dropped 11.9%, to $31.2 billion. 

Xu explained that the biggest challenge before Huawei last year pertained to 
non-market factors, hinting that the sanctions, Covid-19 pandemic, and the 
Russo-Ukrainian conflict, took its toll on the firm. 

While we have considerable pressure ahead of us, we have what it takes to 
come out of the other end, Xu said. Check out the best Huawei phones 

Via: MobileWorldLive



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Link to news story:
https://www.techradar.com/news/huawei-ramps-up-randd-spending-in-mobile-push


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