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2 weeks ago
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Source: AFP
Chinese smartphone shaper elephantine Huawei said Monday that profits fell 28 percent past twelvemonth arsenic it faced planetary economical uncertainty and anemic depletion astatine home.
The Shenzhen-based institution has been astatine the centre of an aggravated standoff betwixt China and the United States aft Washington warned its instrumentality could beryllium utilized for espionage by the Chinese government, an allegation Huawei denies.
Sanctions since 2019 person chopped the firm's entree to US-made components and technologies, forcing it to diversify its maturation strategy.
The institution announced Monday that it made a nett net of 62.6 cardinal yuan ($8.6 billion) past year, down from 87 cardinal yuan successful 2023.
Revenue roseate 22 percent on-year -- marking a 3rd successive summation aft a crisp driblet successful 2021 during the pandemic.
Its 862.1 cardinal yuan successful gross was the highest since the fig surpassed 890 cardinal yuan successful 2020.
The results were "in enactment with forecast", the company's rotating chairwoman Sabrina Meng said successful a statement.
Employees "banded unneurotic to tackle a wide scope of outer challenges", Meng said, adding that the steadfast was "firmly committed to its prime goals and volition support honing prime arsenic a competitory edge".
US sanctions person since 2019 chopped Huawei disconnected from planetary proviso chains for technology and US-made components, a determination that initially hammered its accumulation of smartphones.
Last year, the institution unveiled its archetypal smartphone equipped with a afloat homegrown operating system, a trial of its quality to situation the dominance of Western juggernauts.
It besides released the world's archetypal triple-folding phone, launched hours aft its US rival Apple lifted the curtain connected its newest iPhone.
Apple remains fashionable among Chinese consumers but has ceded crushed to home players specified arsenic Huawei successful caller years.
Huawei remains 1 of the world's starring instrumentality manufacturers for 5G, the 5th procreation of mobile internet, and has been progressive successful infrastructure projects successful galore countries.
The United States has sought to person its allies to prohibition Huawei from their 5G networks, arguing that Beijing could usage the group's products to show communications and information traffic.
The steadfast is besides facing heightened scrutiny successful Europe implicit a caller cash-for-influence probe successful the EU parliament.
Offices were sealed and 5 radical charged this period implicit suspicions that members of parliament were bribed to sway delicate EU policies successful favour of the tech giant.
Lawmakers are to face the Huawei allegations astatine a statement Monday connected "transparency and anticorruption policies successful the EU", which is expected to spot calls for tougher action.
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Source: AFP
