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Huawei Technologies Co. reported its first quarterly net loss in years, amounting to about 300 million yuan, despite a 9.5% revenue increase to approximately 276 billion yuan. The company invested heavily in R&D, totaling 179.7 billion yuan, as it navigated US sanctions and expanded into areas like EV software and AI server chips. Notably, its smart driving solutions became profitable for the first time, and the consumer business group saw a 38% growth, while the core telecom division grew by 5%.
Huawei's automotive revenue surged nearly sixfold in 2024, while its consumer business, including smartphones, grew over 38%, despite stringent U.S. export controls. The company reported a revenue of 862.1 billion yuan ($118.16 billion), a 22% increase from the previous year, although net profit fell 28% to 62.6 billion yuan. Revenue levels have rebounded to those seen in 2019, prior to being placed on the U.S. Entity List.
Huawei Technologies reported a 28% drop in net profit for 2024, totaling 62.6 billion yuan ($8.63 billion), largely due to significant investments in research and development, which reached 179.7 billion yuan, or about 20% of revenue. However, the company experienced its fastest revenue growth in five years.
Soaring demand for Toyota's gasoline-electric hybrids has led to significant supply chain challenges, resulting in extended wait times for customers across major markets. With global hybrid sales nearly tripling in five years, Toyota is working to boost production capacity while facing component shortages, particularly in magnets and inverters. Competitors like Hyundai and Honda are also struggling to meet hybrid demand, highlighting the growing popularity of these vehicles amid a competitive landscape.
Soaring demand for Toyota's gasoline-electric hybrids has led to significant supply chain challenges, resulting in lengthy wait times for buyers across major markets. In Europe, customers face delays of 60 to 70 days, while in Japan, waits range from two to five months. The automaker is working to boost production and alleviate bottlenecks caused by shortages of key components, including magnets and inverters.
SiCarrier, a Shenzhen-backed chip equipment manufacturer, launched 30 new products at Semicon China 2025, showcasing a commitment to domestic semiconductor self-sufficiency amid U.S. export restrictions. The tools, featuring fully localized core components, include machines for diffusion, etching, thin film deposition, and various inspection processes, marking a significant advancement in a sector traditionally dominated by foreign companies.
In January, Saudi Arabia's total merchandise exports reached SR97.18 billion, a 2.4% year-on-year increase, with non-oil exports rising to SR26.48 billion, reflecting a 10.7% growth. China was the top destination for exports, receiving SR14.74 billion, while imports rose 8.3% to SR72.62 billion, primarily from China. The Kingdom's non-oil sector continues to expand, contributing significantly to economic diversification efforts under Vision 2030.
New tariffs imposed by the Trump administration are projected to raise U.S. consumer prices, with an expected increase in the effective tariff rate from 2% in 2024 to 8% in 2025. However, Wells Fargo economists suggest that factors like exchange rates, foreign price adjustments, and high profit margins in goods-related industries may cushion the inflationary impact. Despite these mitigating factors, a 0.6 percentage point rise in year-over-year consumer price inflation is anticipated, with core PCE inflation expected to remain above the Federal Reserve's target through 2026.
UBS has received approval for a complete takeover of its China joint venture, increasing its stake from 67% to 100% by acquiring the 33% held by Beijing State-owned Assets Management. This strategic move follows the Credit Suisse merger and positions UBS as the first foreign bank with full ownership in China's securities market. The reorganization is aimed at streamlining operations, as foreign banks are restricted from holding multiple securities licenses in China.
Taobao is launching an English app in several Asian markets, aiming to enhance its appeal to non-Chinese customers and address past shopping challenges. While it leverages its connection to Lazada, it faces competition from established players like Shopee, known for better returns and after-sales support. The platform's clothing quality has reportedly improved significantly, prompting a potential resurgence in interest among shoppers.
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huawei reports first quarterly loss amid heavy r d investment and sanctions
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huawei automotive revenue surges sixfold amid us export restrictions
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