Huawei posts record profit in 2020 despite mounting US pressure ...News

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Huawei posts record profit in 2020 despite mounting US pressure
source : Russia Today ( News ) () 25
Chinese tech giant Huawei achieved a record profit last year despite pandemic headwinds and US blacklisting. However, those factors still took a toll on the pace of the company’s growth. Huawei’s net profit was up 3.2% and reached 64.6 billion yuan ($9.9 billion), the company said as it presented its 2020 financial results on Wednesday. Meanwhile, its revenue rose by 3.8% year-on-year to hit 891.4 billion yuan ($136.7 billion).  The annual revenue growth was modest compared to the previous year when it amounted to 19%. Year-on-year net profit growth was also slower compared to 5.6% a year earlier, and the contrast is even more staggeri

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