Huawei’s consumer segment revenue halved, despite profit increase 76 percent – IT Pro – News

Huawei recorded nearly half of the turnover last year with the sale of consumer devices. This includes smartphones, tablets and wearable devices. However, the Chinese company managed to generate at least 75.9 percent more profit.

In total, Huawei earned nearly 637 billion Chinese yuan over the entire year of 2021, and transferred nearly 91 billion euros, according to The company’s latest annual figures† This is a 28.5 percent decrease compared to the previous year The manufacturer expected before. The biggest drop was in the Consumers section, where volume was down 49.6 percent.

Since the United States Sanctions against the Chinese companyHowever, new Huawei products can no longer use Google services, and it has become more and more difficult to buy American devices. This has led to a significant drop in global sales of smartphones and other consumer devices. Specifically, the turnover achieved in Europe and North and South America decreased by 27.3 and 26.3 percent, respectively. I found one last year Similar drop place†

Despite the general decline in sales, both in China and abroad, Huawei was still able to achieve significantly higher profits. In its own words, the company knew “better how to handle uncertainties,” a reference to sanctions that were primarily imposed by the United States.

The main reason for the significant increase in profit is the “other income” item. An increase of 8685.7 percent was recorded here from CNY 692 million in 2020 to CNY 60.7 billion in 2021. This item includes income from Sale of the former Honor subsidiary†