iTWire Thursday, 01 April 2021 20:31 Huawei records profit in 2020 due to strong growth in China Featured Pixabay Chinese telecommunications equipment vendor Huawei technologies has again managed to record an annual profit despite the US sanctions it faces, with the company announcing a 64.6 billion yuan (A$12.98 billion) profit for 2020, an increase of 3.2% year-on-year. Revenue was 891.4 billion yuan, an increase of 3.8% on the previous year. The company's performance was largely shored up by its sales in China, with an increase of 15.4% in revenue up to 584.9 billion yuan. In all major regions, Huawei saw a downward trend in revenue: for the Asia-Pacific (apart from China) revenue was down 8.7% to 64.4 billion yuan, in the Americas the fall was steeper at 24.5% to 39.6 billion yuan and the EMEA region saw revenue of 180.8 billion yuan, a drop of 12.2%.