TAIPEI — Huawei Technologies on Friday said its device business, which includes smartphones and other consumer electronics, is facing its “most challenging” time ever this year as the company continues to wrestle with a U.S. clampdown and economic uncertainties.
The Chinese tech company’s revenue for the first half of 2022 dropped 5.9% on the year to 301.6 billion yuan ($44.8 billion), while its net profit margin declined to 5% from 9.8% a year ago, Huawei said in a brief press statement on Friday.
