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China’s Huawei reports flat profit for 2016, revenues slow

March 31, 2017 By Sijia Jiang HONG KONG (Reuters) – Chinese telecom equipment and smartphone maker Huawei Technologies Co Ltd [HWT.UL] said on Friday that net profit edged up just 0.4 percent last year, its slowest annual growth since 2011. Huawei, the world’s No. 3 smartphone maker behind Apple Inc and Samsung Electronics Co Ltd , said net profit rose to 37.1 billion yuan ($5.3 billion). Strong competition in China’s smartphone market from previously little-known domestic rivals OPPO and Vivo cost Huawei its top spot as the biggest vendor in…

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Shares of Chinese selfie app maker Meitu plunge as much as 15 percent

March 27, 2017 HONG KONG (Reuters) – Shares of Chinese selfie app maker Meitu Inc plunged as much as 15 percent on Monday after it posted a loss in 2016, in its first earnings report since it listed. The stock fell to as low as HK$13.20, lagging a 0.2 percent fall for the benchmark Hang Seng Index. (Reporting By Sijia Jiang; Editing by Anne Marie Roantree and Stephen Coates) The post Shares of Chinese selfie app maker Meitu plunge as much as 15 percent appeared first on One America News…

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