HONG KONG/BEIJING: Huawei Technologies Co Ltd doubled its China smartphone revenue in the first half of this year, defying a slowdown in the world's biggest handset market that is enveloping rivals Xiaomi Inc and Samsung Electronics Co Ltd. The fourth-largest smartphone maker globally missed shipment targets for two years, but a focus shift to high-margin premium models has brought into range its goal of moving 33 per cent more handsets than 2014, said a person with knowledge of the matter.
The former head of the United States' Central Intelligence Agency Michael Hayden said on Friday it "goes without saying" that Chinese telecoms giant Huawei spies for Beijing. Speaking to the Australian Financial Review, Hayden claimed China was engaged in unrestricted espionage against the West and said it was his belief that Huawei would have shared information with state agencies.
On Friday, Control4, one of the first companies to specialize in home automation technology, had a stellar IPO. It popped 23% from its initial $16 price to a high of $20.70 and is still trading at about $20 today.