Embattled China Telecom Huawei Turns to Pig Farming, Car Sales, Cosmetics
China’s telecom Huawei has been hit by four rounds of U.S. sanctions in less than two years. After nearly eight months of chip shortages, Huawei’s smartphone business has been battered, forcing it to expand into “crossover” businesses, such as smart pig farming, mining, and car sales.
On May 4, Bonjour Holdings Limited, one of Hong Kong’s leading cosmetics retailers, signed a cooperation agreement with Huawei International Co. Ltd. in Hong Kong, for joint brand marketing in another Huawei “crossover” business venture.
The announcement said that Bonjour Technology Services Limited, a wholly-owned subsidiary, had entered into a non-binding memorandum of understanding with Huawei’s subsidiary, Huawei International Co. Ltd. in Hong Kong, to conduct co-brand sales.
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