On April 28, 2022, Huawei published its business result for Q1 2022, which show the CNY 131 billion yuan in revenue (19.8 billion USD). Despite being affected by various challenges and losses the company has managed to post a net profit of 4.3 percent.
Huawei’s Rotating Chairman – Ken Hu has shared Q1 2022 business result and his view on the current status of the company, which shows the impact on consumer business majorly controlled by a smartphone. However, the company’s network business has continued to post good results for the tech firm.
In the face of every difficulty, Huawei has promised to increase its investment in innovation and development that will resolve the company’s future issues.
“We have yet again increased our investment in R&D to harness the momentum of our innovation and create new value for customers.”
Smartphone business loss:
In 2019, Huawei has been blacklisted by the U.S. commerce department, which prohibits the company from accessing and purchasing U.S.-made technologies as well as an important component such as chipsets and software services from firms such as Google.
The lack of required components has majorly affected smartphone manufacturing and its yield among consumers due to essential software services.
Rebuilding Supply Chain:
Recently, Huawei consumer business group CEO has shared some information regarding the recurrent supply chain status. Saying that the company has further improved its position in accusing required components as compared to 2021. Consumers can now access devices better than last year.
A spokesperson told Reuters:
“Consumers can purchase Huawei smartphones more readily now including the latest best-selling models,” such as its flagship P50 and Nova series, the spokesperson said, without giving further details on-chip and component supplies.