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Huawei posts record profit but US pressure, pandemic hit revenue
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Chinese telecom giant Huawei said yesterday it achieved the latest in a string of record profits last year, but revenue growth slowed sharply because of the pandemic and tightening US pressure that has pushed it into new business lines to survive. Unlisted Huawei said net profit rose 3.2% to 64.6bn yuan ($9.9bn) in 2020, while revenue inched 3.8% higher to 891.4bn yuan. The world’s leading supplier of telecom networking gear and a top smartphone brand, Huawei faces uncertainty since the administration of former president Donald Trump launched a campaign in 2018 to contain the company. The American pressure has taken time to impact the bottom line, but the results unveiled Wednesday clearly

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