Huawei Technologies on Monday reported asset sale gains helped lift profit 76% in 2021, its biggest-ever annual gain.
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Huawei has obtained a licence in China that allows it to seek external capital, as it works to shore up its supply of silicon chips in the face of US pressure.
Huawei has pledged to step up investment in software and digital power technology, seeking to overcome US sanctions that dragged sales to a fifth straight slump.
Huawei Technologies’ chairman has said that although US sanctions have choked its smartphone business, it will not give up and plans to eventually return to the industry’s “throne”.
Huawei Technologies will do everything it can to strengthen its supply chain which has been “attacked”, its rotating Chairman Guo Ping said on Wednesday.
Huawei Technologies, in its first official response to the Trump administration’s move to curb its access to global chip supplies, called the decision “arbitrary” and said its business would be impacted.
Huawei earnings surged 25% last year as the Chinese telecommunications giant rose up the ranks of the global smartphone market.