Huawei pivots to fish farms, mining after US blocks its phones 6 min. 15.03.2021
Once the worldâs largest smartphone maker, the company has seen a series of US sanctions almost obliterate its lucrative consumer business Once the worldâs largest smartphone maker, the company has seen a series of US sanctions almost obliterate its lucrative consumer business Phone shipments tumbled 42% in the final three months of 2020 for the Chinese company Photo credit: AFP
Six months after the Trump administration dealt a crushing blow to Huawei Technologies Co.âs smartphone business, the Chinese telecommunications giant is turning to less glamorous alternatives that may eventually offset the decline of its biggest revenue contributor.
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JD.com (NASDAQ: JD), a leading Chinese e-commerce company, reported a 31% jump in fourth-quarter revenue totaling $34.4 billion, and total revenue of $114.3 billion for 2020. The company s core retail business saw the largest jump in revenue at $31.9 billion. Year-over-year, the company reported a 30% increase in active users to 471.9 million, it said on a Thursday earnings call.
Earnings per share increased 187.5% year-over-year to 23 cents, beating the 19-cent estimate. The company is currently not issuing any earnings guidance
JD.com said it would continue to acquire new users and diversify its business for long-term growth. Last year, the company filed listings in Chinese markets for spinoffs including JD Health (HKG: 6618), JD Digits and JD Logistics. JD Health raised $4 billion in its initial public offering in December, while plans for JD Digits and JD Logistics seem to have been put on hold due to Chinese regulation uncertainty.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the online on-demand food delivery services market.
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Based on segmentation by business model, which is the leading segment in the market?
Based on the business model, the market saw maximum growth in the order-focused food delivery services segment in 2019.
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