SHENZHEN: Chinese tech giant Huawei Technologies received US$560 million in royalty revenues in 2022, Alan Fan, its head of intellectual property (IP), said on Thursday (Jul 13) in a speech at company headquarters in the city of Shenzhen.

Huawei earned more than it paid out in royalties over the last two years as the decline in handset sales meant it needed to pay less to other IP holders, Fan said.

The company has entered into patent licenses with phone makers Samsung and Oppo and automakers including Audi, Mercedes Benz, BMW, Porsche, Subaru, Lamborghini and Bentley, Huawei said.

Last year, Huawei spent US$23 billion on research and development, with 114,000 staff, 55 per cent of its total, working on research, the company said.

From 2019, rounds of US restrictions after authorities there called the company a security risk reduced its access to chipmaking tools. Huawei denies being a security risk.