Huawei Makes Significantly Less Profit Due to US Sanctions

Chinese tech and telecom giant Huawei Technologies is focusing on its growing cloud services for the future.

 

The company, which is burdened by US sanctions for alleged espionage practices, would still have access to chips in the United States with its cloud activities.

The British business newspaper Financial Times reported this based on sources.

Huawei’s rapidly growing cloud division is engaged in data processing and data storage, among other things. Huawei also has access to technology related to artificial intelligence via the cloud.

Since the beginning of this year, Huawei has increased the focus on the cloud division, which now plays an equally important role at the company as the smartphone and telecom division, the newspaper reports.

The US has previously blacklisted Huawei and other Chinese companies as posing a threat to national security.

Recently, dozens of Huawei partners were added. With that move, the Trump administration wants to prevent Huawei from bypassing export controls to obtain electronic components developed or manufactured using US technology.

By Mattoo Rani

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