Visitors are seen at a Huawei stand during the 2017 Mobile World Congress in Shanghai, China June 28, 2017. REUTERS/Stringer/File Photo
Visitors are seen at a Huawei stand during the 2017 Mobile World Congress in Shanghai, China June 28, 2017. REUTERS/Stringer/File Photo

Huawei sees slowest sales growth in years as it takes on Apple



Huawei Technologies warned of its slowest revenue growth since 2013, despite making headway against Apple in global smartphones.

Revenue at China’s biggest telecommunications gear maker probably rose 15 per cent to 600 billion yuan (US$92 billion) in 2017, rotating chief executive Ken Hu said in a letter to staff posted on the company’s verified WeChat account. That’s down from 2016 when sales jumped 32 percent. The company shipped 153 million smartphones.

Shenzhen-based Huawei has used a vast cash-generating networking business to bankroll a successful foray into smartphones, using high-end but affordable devices to push aside local rivals such as Oppo and Xiaomi. Together with local peers, it’s played a critical role in squeezing Apple and Samsung out from the country’s top sellers, though Apple is now counting on the iPhone X to help it win back status-conscious Chinese. But telecoms spending -- its biggest source of revenue -- is stagnant as construction of next-generation networks hasn’t taken off.

“Our carrier business was affected by market investment trends but remains stable,” Hu, one of several Huawei executives who take up the chief executive post on a rotating basis, wrote in his memo. “The market’s fluctuations makes us more determined to team with carriers to explore and grasp” future opportunities.

Founded in 1987 by former army engineer Ren Zhengfei, Huawei has grown into one of China’s largest and most diverse private corporations.

Huawei’s now stepped up an expansion into overseas markets such as Europe and is said to be in talks with US carriers about selling its phones on Apple’s home turf. Ranked third globally, the Chinese company took 10.4 per cent of global shipments in the third quarter versus its U.S. rival’s 12.4 per cent, according to research firm IDC.

The Chinese brand is steadily moving deeper into higher-end phones, selling devices priced as high as 8,999 yuan.

Next year may prove pivotal with Huawei and Xiaomi said to be in talks with US wireless operators including AT&T and Verizon Communications about selling flagship smartphones to American consumers. The two Chinese companies now barely register in the US, where relationships with carriers are key to penetrating the market. Huawei has already tried selling its flagship Mate 9 phone in the US via e-commerce websites like Amazon.com, but working directly with wireless partners would give it a wider presence across through retail stores, carrier websites and TV commercials.

Huawei’s chief executive didn’t discuss profitability or give division specifics in his memo, which precedes a more comprehensive results report. But it’s said it wanted to keep a closer eye on the bottom line. The company barely grew earnings in 2016 and has said it must reduce operational expenses. In last year’s letter, then-CEO Eric Xu pledged to re-tool management’s approach and avoid “blind optimism and rhetoric.” Counterpoint Research estimates Huawei grabbed 4.9 per cent of global handset profits in the third quarter, ahead of its Chinese rivals but still lagging Apple and Samsung.

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How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

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The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

The years Ramadan fell in May

1987

1954

1921

1888

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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Transmission: Six-speed gearbox

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Specs

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360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
Size: 21 employees
Funding: $7 million 
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

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Disclaimer

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Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

The specs
Engine: 2.0-litre 4-cyl turbo

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Rating: 1/5

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