"Huawei vows to return to the smartphone \u2018throne\u2019 despite U.S. sanctions crippling its business"

" \n Huawei vows to return to the smartphone \u2018throne\u2019 despite U.S. sanctions crippling its business \n \n\n \n A Huawei executive said the Chinese technology giant will return to the \u201cthrone\u201d of the smartphone industry even as the company continues to suffer the fallout from U.S. sanctions. \n \n\n \n Under the administration of former U.S. President Donald Trump, Huawei was dubbed a national security threat, put on an export blacklist and cut off from key technologies,\u00a0 namely advanced semiconductors \u00a0needed for its smartphones. \n \n\n \n Revenue from Huawei\u2019s consumer division plunged 47% year-on-year in the first half of 2021. The company was\u00a0 once No. 1 in the smartphone market , but has since\u00a0 dropped out of the top five . \n \n\n \n \u201cThe biggest difficulty for us at present is on mobile phones. We know that [to produce] phones with small size and low power consumption requires advanced technology. Huawei can do the design, but no one is able to help us to produce. We are stuck,\u201d Huawei Chairman Guo Ping said in a Q&A with staff, according to a transcript seen by CNBC. \n \n\n \n Read This: Tullow oil to invest $4 billion in Ghana\u2019s oil sector over the next decade \u2013 MD says \n \n\n \n One of Huawei\u2019s biggest issues is that\u00a0 Chinese chipmakers do not have the ability to make the cutting-edge semiconductors \u00a0that the Shenzhen-headquartered company requires. \n \n\n \n Guo said, however, Huawei will not exit the smartphone business. Instead, it will work with partners in order to improve their technology which will in turn benefit Huawei as it could get access to China-produced silicon. \n \n\n \n \u201cHuawei will keep its existence in mobile phone sector,\u201d Guo said. \u201cI expect that as the capability in chip manufacturing increases, [Huawei] will return to the smartphone throne.\u201d \n \n\n \n \u201cI hope the day when China is able to make chips can come sooner. Until that day, the sector will exist, and we will try to retain and develop our technologies, to make sure we are able to make competitive phones,\u201d Guo added. \n \n\n \n Last year, Huawei sold off its budget smartphone brand called Honor , in a bid to keep the business alive. \n \n\n \n Huawei has shifted its focus to areas such as software and cloud computing as the smartphone business continues to face headwinds. \n "

"Huawei vows to return to the smartphone \u2018throne\u2019 despite U.S. sanctions crippling its business"

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