Tech

Huawei profits grow as it looks to AI and electric car future

The Chinese networking and electronics leader reported net profit of about €1.76 billion

Huawei is now building a network of chipmaking plants to underpin its longer-term ambitions in arenas such as electric vehicles and artificial intelligence

Huawei Technologies has sustained its run of strong quarterly profit growth, building on the resurgence of its consumer business against Apple’s iPhone and the rise of its cloud division against incumbent Alibaba.

The Chinese networking and electronics leader reported net profit of about 13.9 billion yuan (€1.76 billion) in the December quarter, based on Bloomberg calculations from its financial figures. That’s more than 65 per cent higher than the 8.4 billion yuan tally a year ...