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Huawei Reports Drop in Q1 Revenue

Huawei Reports Drop in Q1 Revenue
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Huawei Reports Drop in Q1 Revenue

Huawei Reports Drop in Q1 Revenue

China's Huawei Technologies saw revenue fall 16.5% in the first quarter compared to a year earlier, hurt by a dip in sales after selling its budget smartphone unit Honor in November.

Revenues were 152.2 billion yuan ($23.46 billion) in the first quarter, it said on Wednesday.

But it said net profit margin rose 3.8 percentage points compared to a year earlier to 11.1%, as the company cut costs and received a boost from $600 million in royalty payments.

The UK, New Zealand and Australia have formally blocked Huawei from their 5G networks following US pressure.

Pressure from Washington weighed on Huawei's results last year. Unlike in 2019, the group has not yet disclosed in detail the number of phones it sold in 2020.

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Technology

Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
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Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado

Chinese low Earth orbit satellite company SpaceSail will start providing internet access to remote areas in Brazil in the first half of 2026, President Luiz Inacio Lula da Silva's chief of staff, Rui Costa, said on Wednesday, Reuters reported.

SpaceSail and Brazil's state-owned telecom Telebras had signed a memorandum of understanding in late 2024 to offer satellite internet services for schools, hospitals and other essential services in the South American country.

SpaceSail competes directly with Elon Musk's Starlink in the satellite internet market.

Technology

Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
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Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo

Alphabet Inc's Google Pay launched its first co-branded digital credit card in India on Wednesday in partnership with Axis Bank, intensifying efforts to monetize its massive user base in the country's crowded fintech sector.

WHY IT'S IMPORTANT

While Google Pay is a dominant player in India's popular domestic payments network, the Unified Payments Interface (UPI), its core service generates zero revenue from user-to-user payments due to government mandates. It, however, earns commissions for in-app services like bill payments and mobile recharges, Reuters reported.

The credit card launch opens a new avenue for Google to monetize its user base, mirroring strategies by domestic rivals Paytm and PhonePe to cross-sell lending products to payment users.

BY THE NUMBERS

India has just 50 million credit card holders, according to Google Pay, whereas its population exceeds 1.4 billion.

Google Pay meanwhile is the second top app in India by number of UPI transactions, having processed nearly 7.2 billion transactions in October alone.

HOW IT WORKS

Axis Bank manages the credit risk and issuance, while the digital-only card will be linked to the Google Pay app to make online and offline payments on the go.

Technology

UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
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UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)

The UK government on Wednesday said it was focused on resuming talks promptly after the United States suspended implementation of a tech cooperation deal with Britain.

The deal was signed during US President Donald Trump's pomp-filled state visit to the UK in September.

But on Tuesday Michael Kratsios, head of the White House Office of Science and Technology Policy, said on X that the UK must make "substantial progress" on trade talks for the deal to resume.

The US and UK have been trying to implement the "Economic Prosperity Deal," agreed in May and one of the first international agreements signed after Trump threatened the world with punishing tariffs on goods entering the United States.

The US-UK Technology Prosperity Deal agreed in September 2025 was a non-binding agreement to sit alongside the broader Economic Prosperity Deal.

It was designed to align the two countries on tech innovation while spurring mostly private-sector investment, Agence France Presse reported.

Following the White House announcement, a UK government spokesperson said: "We look forward to resuming work on this partnership as quickly as possible... and working together to help shape the emerging technologies of the future."

Business and Trade Secretary Peter Kyle held trade talks with US counterparts in Washington DC last week to progress the Economic Prosperity Deal, the spokesperson said.

"They celebrated the success of the recent pharma deal and both sides agreed to continue further negotiations next year."

According to the Financial Times, US officials have become increasingly frustrated with Britain's lack of willingness to address non-tariff barriers, including rules and regulations governing food and industrial goods.