Huawei lost over US$60 million on foldable phones
The Chinese smartphone giant lost between US$60-70m on the foldable Huawei Mate X
Even though Huawei’s foldable Mate X smartphone costs a whopping US$2,400, the company says it’s still losing money on it.
Huawei phones are still a challenging sell overseas since a US blacklist has stripped access to Google apps like YouTube, Google Maps and Google Play. Analysts have pointed out that this will affect sales. Huawei has been working to replace Google apps and services with its own Huawei Mobile Services (HMS), but the smartphone maker admits that it would prefer to continue using Google services.
The company still uses components from its US suppliers and maintains good relationships, according to Yu. But he added that Huawei can make many things by itself or use other domestic manufacturers.
The Huawei Mate X is a foldable phone that looks better than it feels
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