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Huawei crackdown

Huawei says 2022 'most challenging' time for device business

China tech champion to spend $1.5bn on auto R&D amid ongoing U.S. crackdown

China's Huawei Technologies is battling an ongoing U.S. crackdown as well as a difficult economic environment.     © Getty Images

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.

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