Huawei's H1 revenue up 9.55 pct amid rising R&D spending

 Chinese tech giant Huawei generated 467.82 billion yuan (about 69.6 billion U.S. dollars) in revenue in the first half of the year, up 9.55 percent year on year, according to the company's semi-annual report released Monday.

From January to June, the company's research and development (R&D) spending surged to 121.38 billion yuan, a record high for the same period. The R&D spending rose 25.2 percent from a year earlier, accounting for 25.94 percent of total revenue.

In a separate statement published earlier, Huawei said it will continue to ramp up R&D investment in key strategic areas, including connectivity, computing, cloud, terminals, intelligent driving, and artificial intelligence. The company pledged to embed AI and security capabilities into every product and network to sharpen its core competitiveness.