Huawei staff fear cuts as smartphone profits disappoint | Reuters

By Sijia Jiang and Harro Ten Wolde
| HONG KONG/BARCELONA

HONG KONG/BARCELONA Staff at China’s Huawei Technologies Co Ltd [HWT.UL] are bracing for possible jobs cuts after internal memos highlighted intense pressure to improve earnings and an executive said the flagship smartphone business had missed internal profit targets.

Huawei, which rose rapidly to become the world’s third largest smartphone maker, is aiming to narrow the gap with leaders Apple Inc and Samsung Electronics. But the company faces challenges after losing its top spot in China, the world’s biggest market, to new contender Oppo last year.

Huawei’s mobile unit missed an internal profit target for 2016 even though revenues exceeded targets, Richard Yu, head of its consumer business division that includes mobile device operation, told Reuters in an interview at the Barcelona Mobile World…

Read the complete version from the Source…

Back to Top