Despite Imposed Limitations, Huawei Is Determined To Fight for Its Place Under the AI-Powered Sun
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Chinese tech giant Huawei reported a modest growth in its consumer business amid U.S. sanctions and slower economic recovery. The company's overall revenue rose 4.8% YoY to 178.8 billion yuan in Q2, with consumer business revenue growing only 2.2% YoY to 103.5 billion yuan in H1. Huawei's ICT infrastructure business was the biggest revenue contributor. The company also reported revenue from its EV business and AI model. Despite a struggling smartphone market, Huawei expects its flagship consumer products to return to normalcy this year.
August 14, 2023 | 1:48 pm
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Apple's sales fell for the third consecutive quarter, although it managed to beat estimates with its latest report. The company's all-time revenue record in services saved it from missing iPhone sales estimates.
The news indicates a struggling smartphone market, which directly impacts Apple as a leading player in the market. This could potentially affect the company's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Qualcomm warned of lower-than-expected sales for the ongoing quarter due to a slumping smartphone market. The company only has a license to sell 4G chips to Huawei and does not expect any material revenue going forward.
The news directly impacts Qualcomm as it indicates a struggling smartphone market and the company's inability to sell 5G chips to Huawei, which could negatively affect its stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEUTRAL IMPACT
Huawei was restricted from accessing the latest versions of Google’s Android operating system due to U.S. sanctions. In response, Huawei released its own system, Harmony OS.
While the news is relevant to Google, it's unclear how this will impact the company's stock in the short term as Huawei is just one of many Android users.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50