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Megan Robinson
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The results were in line with expectations according to the vendor
Huawei has reported a decline in revenue for 2021, but a significant increase in net profits, as CFO Meng Wanzhou made her first public appearance since her release from custody in Canada last year.
The vendor posted revenue of $99.9bn for 2021, which was down 29 per cent, while it reported net profits of $17.8bn, up 75.9pc YoY.
The performance was in line with Huawei’s expectations, said its rotating chairman Guo Ping.
Ping insisted Huawei will continue to “fight for survival”, amid challenges.
“Overall, our performance was in line with forecast. Our carrier business remained stable, our enterprise business experienced steady growth, and our consumer business quickly expanded into new domains,” he said.
Meng (pictured), who made her first public appearance since her release from custody in Canada last year, added “our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty.”
Highlights
Huawei’s carrier group reported revenue of $44.2bn as the vendor increased its 5G rollout deployment, with its enterprise business generating $16.1bn.
Meanwhile its consumer business hit $38.2bn last year, as Huawei reported it Harmony OS was used in over 220 million Huawei devices as of 2021.