Huawei’s Irish subsidiary reports €30.4m in revenues

Aspiegel, a Dublin-based subsidiary of Huawei that recently took control of most of the Chinese company's mobile software services, recorded turnover of €30.4 million last year.

The company, which only commenced trading in 2018, is an international distributor of digital content and customer cloud services on behalf of its parent.

Newly filed accounts for Aspiegel show that, while revenues surpassed €30 million last year, the increase in turnover was offset by a rise in the cost of sales, which totalled €26.9 million. In addition the company recorded €3 million in distribution costs.

A breakdown of turnover shows €8 million in sales derived from Ireland with a further €9.3 million coming from continental Europe. The remaining €13 million came from the rest of the world.

Huckletree to open fintech-focused co-working hub in Dublin

---

Bluedrop Medical raises €1.2m in seed fund for diabetes device

---

Jabra 85h headphones: active noise cancellers tick the right boxes

---

Datalex expects unchanged revenues of €45m after review

---

Aspiegel, whose business is described as “distribution of digital content and customer cloud services”, reported a €265,905 profit as against a €50,000 loss a year earlier.

The accounts show the company wrote off a patent that expired in May 2018 in a move that cost it €6 million.

Mobile services

The Irish Times revealed in August that Huawei had transferred many of its mobile software services to Aspiegel in recent months. Some industry insiders have suggested the decision, which saw the Irish unit taking over responsibility for European users’ personal data, is an attempt by the company to show it has nothing to hide when it comes to security concerns.

Huawei mobile services, known as Huawei ID in some markets, allow users to access the company’s specially designed smartphone apps and to store personal information, including payment details, in the cloud.

The services were transferred to the Dublin-headquartered subsidiary from the group’s Shenzhen headquarters at the end of April, with the unit given responsibility for the business operations and development for all the group’s mobile service outside of mainland China, and with a particular focus on Europe, one of its most important markets.

Aspiegel employed seven people at the end of last year with staff costs totalling €1.7 million.

Huawei's main Irish subsidiary, Huawei Technologies Ireland, recorded sales of €94.8 million in 2017, the last year for which accounts are available. Pretax profits for the company, which employs about 180 people across Dublin, Cork and Athlone, totalled €4.3 million.