Huawei Banks on Tech Patents As New Revenue Source

China’s Huawei is licensing key technologies in automobiles, smartphones and mobile networks for new sources of income after a crackdown by the United States throttled its core businesses, Nikkei Asia reported.

The struggling tech firm has reached licensing deals with top carmakers, including European giants like Audi, Porsche, Renault and Lamborghini, which would mean that its technologies “will be used in 15 million of the 70 million cars produced globally each year.”

Read the full report: Nikkei Asia

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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at [email protected]