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Gamers8 Riyadh Set Alight with $2Mln in Prizes at Fortnite Tournament

Crowds at the Gamer8 event in Riyadh. (Saleh al-Ghannam)
Crowds at the Gamer8 event in Riyadh. (Saleh al-Ghannam)
    Riyadh - Haitham al-Zahim
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Gamers8 Riyadh Set Alight with $2Mln in Prizes at Fortnite Tournament

Crowds at the Gamer8 event in Riyadh. (Saleh al-Ghannam)
Crowds at the Gamer8 event in Riyadh. (Saleh al-Ghannam)

An elite Fortnite tournament, one of many organized within the framework of the Gamers8 Esports and Music Festival organized by the Saudi Esports Federation, will launch at Boulevard of Riyadh on Thursday.

The tournament will see some of the most prominent names in esports take part and compete for two million dollars in prizes. The event concludes on Sunday.

This Gamers8 Esports and Music Festival tournament will be followed by a Tom Clancy’s Rainbow Six tournament, which will see some of the world’s best teams compete for 1.2 million dollars in prizes between August 4 and 7.

After that, a PUBG Mobile tournament will be held between August 11 and 13 and August 18 and 20.

The Gamers8 Esports and Music Festival kicked off on July 14 with a Rocket League tournament that went on until July 17 before the Riyadh Masters, which ran from July 20 to 24.

Gamers8 offers gamers a unique experience, as it will feature a range of events and concerts held every weekend for two months.

Established in 2017, the Saudi Esports Federation aims to support and strengthen the local gaming community.

It has organized an array of national and international tournaments over the past four years, drawing massive local and foreign investments

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Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
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Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT

Chinese smartphone maker giant Huawei said Monday that profits fell 28 percent last year as it faced international economic uncertainty and weak consumption at home.

The Shenzhen-based company has been at the center of an intense standoff between China and the United States after Washington warned its equipment could be used for espionage by the Chinese government, an allegation Huawei denies.

Sanctions since 2019 have cut the firm's access to US-made components and technologies, forcing it to diversify its growth strategy.

The company announced Monday that it made a net profit of 62.6 billion yuan ($8.6 billion) last year, down from 87 billion yuan in 2023.

Revenue rose 22 percent on-year -- marking a third successive increase after a sharp drop in 2021 during the pandemic.

Its 862.1 billion yuan in revenue was the highest since the figure surpassed 890 billion yuan in 2020.

The results were "in line with forecast", the company's rotating chairwoman Sabrina Meng said in a statement, according to AFP.

Employees "banded together to tackle a wide range of external challenges", Meng said, adding that the firm was "firmly committed to its quality goals and will keep honing quality as a competitive edge".

US sanctions have since 2019 cut Huawei off from global supply chains for technology and US-made components, a move that initially hammered its production of smartphones.

Last year, the company unveiled its first smartphone equipped with a fully homegrown operating system, a test of its ability to challenge the dominance of Western juggernauts.

It also released the world's first triple-folding phone, launched hours after its US rival Apple lifted the curtain on its newest iPhone.

Apple remains popular among Chinese consumers but has ceded ground to domestic players such as Huawei in recent years.

Huawei remains one of the world's leading equipment manufacturers for 5G, the fifth generation of mobile internet, and has been involved in infrastructure projects in numerous countries.