Huawei Doubles Down on Smartphone Business as EV Sales Slow
Chinese tech giant Huawei is working to rebuild its consumer business after U.S. sanctions caused the division's revenue to halve. Amid a slowdown in the smartphone and automotive markets, Huawei's consumer business has chosen to focus on phones equipped with self-developed chips. According to CNBC calculations, deliveries of Huawei-backed electric vehicles fell 29% year-on-year in September, marking the third consecutive month of decline. Meanwhile, China's smartphone market has also seen a sales decline this year.
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