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flag Huawei reports a 32% drop in net profit amid rising R&D spending and reclaims China's smartphone lead.

flag Huawei reported a 32% drop in first-half net profit to $5.2 billion despite a 4% revenue rise to its highest since 2020 at $427 billion. flag The company spent 9% more on R&D, totaling $14.2 billion. flag Huawei reclaimed China's smartphone market, selling 12.5 million devices, and is entering the electric vehicle market. flag Meanwhile, Alibaba developed a new AI chip for broader inference tasks, boosting its cloud computing revenue by 26%.

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