Chinese telecommunications giant Huawei said it is expanding its team of scientists even as the company has lost revenue in the wake of U.S. sanctions.
It's a bet that doubling down on research can help China build up its own technologies, now that the U.S. under President Joe Biden's administration is bent on competing with Beijing and kept restrictions on the Chinese company's access to semiconductor technology from the U.S.
"Despite US restrictions over the past two years, we have not changed our human resource policies, and everything is business as usual, like salary and bonus distribution, job grade raises, and company share distribution," Ren said, according to an English-language transcript seen by CNBC. "There has been no chaos within the company. Instead, the company is now more united than ever, and has even attracted more talent.
"Due to US restrictions over the past two years, we no longer seek to use the best components to make the best products," Ren said. "Instead, we are using scientific and reasonable methods to ensure balanced traffic across the system and are using appropriate components to make high-quality products, which has significantly improved our profitability."The company reported 320.
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