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, March 28 (IANS) Hit hard by the US sanctions, Chinese conglomerate Huawei Technologies on Monday reported a 28.5 per cent dip in its revenue last year, along with a sharp downfall in its smartphone business.Despite a revenue decline in 2021, ...
Huawei's profits increase dramatically in 2021, but revenues fall thanks to challenges.
Huawei has stepped up an emphasis on the China market and on serving hospitals, mines, and other industrial customers with technologies that are less vulnerable to U.S. sanctions.
The tech giant said its financial structure has become more resilient and flexible, as it continues to deal with the impact of US sanctions.
Huawei on Monday reported a net profit surge of 75.9 percent in 2021, a better-than-expected result indicating that the Chinese technology giant is more capable of dealing with uncertainties, senior executives said, while forecasting continued challenges in 2022 amid the US government sanctions.