Staff fears job cuts as Huawei profits disappoint

Updated 2017-03-01 11:33:37 CGTN

Jobs at Huawei may be on the line, after a company executive revealed the company's smartphone business unit missed an internal profit target.‍

Richard Yu, head of Huawei's consumer business division, told Reuters in an interview at the Barcelona Mobile World Congress this week that the company's mobile unit missed an internal profit target for 2016 even though revenues exceeded targets.

Analysts say Huawei's expensive marketing strategy didn't work out as expected. Those analysts say that's due to tougher market competition. Rivals piled in to fill a gap in the market left by Samsung after its Note 7 fiasco.

Huawei's management has warned of potential moves on employees who don't work hard enough. The company's full earnings results will be released on March 31.

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