Huawei Profit Surges After Deals, Revamp Help Weather Sanctions
- Profit rises despite sales flat to down in most businesses
- Meng Wanzhou will make first public speech since her return
Huawei Technologies Co. at the MWC Shanghai exhibition in Shanghai
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Huawei Technologies Co.’s net profit surged 76% in 2021 despite deep revenue declines across its business, reflecting efforts to shave costs and rely on homegrown components to weather the fallout from American sanctions.
The Chinese networking and smartphone giant unveiled its annual results at a briefing presided over by Chief Financial Officer Meng Wanzhou, who meets media for the first time since her September release from three years of house arrest in Canada.