Huawei reports 9.6% revenue rise as R&D spending increases
Huawei Investment & Holding announced first-half revenue grew 9.55% year-over-year to RMB467.82 billion. Research and development spending rose to RMB121.38 billion.
Huawei Investment & Holding reported its revenue for the first half of the year reached RMB467.82 billion (approximately $64.7 billion), marking a 9.55% increase compared to the same period last year.
The company's net profit saw a decline, falling to RMB23.43 billion from RMB37.05 billion in the prior year. Concurrently, expenditures on research and development (R&D) significantly increased, reaching RMB121.38 billion.
These R&D investments represent an approximate 25% rise and constituted 25.9% of Huawei's total revenue. The figures indicate the company is prioritizing technological investment even as its profitability decreased.
Huawei has not provided specific details regarding the factors contributing to the profit reduction or its future outlook.