Huawei Patent-Licensing agreements to diversify revenue

Over 20 new patent licencing arrangements or extended agreements with firms in numerous areas, including smartphones, vehicles, and telecoms, have been signed by the Chinese tech behemoth.

Huawei announced total revenue of US$100 billion in 2021, a 29% decline from the previous year, while consumer division sales, which include smartphones, fell 50% to US$33.5 billion.

These agreements will allow Huawei to obtain royalties that will be used to fund its research and development operations.

Last year, Huawei filed a record 6952 patents, with 3500 patent applications filed with the EU patent office alone. The tech corporation had over 110,000 active patents worldwide by the end of 2021.