The U.S. sanctioned it, denounced it and charged its CFO with crimes, but Huawei, the giant Chinese telecom-gear maker, is still raking in profits.
Both U.S. restrictions and the global pandemic raised headwinds for Huawei, but Monday the firm announced record profits, and it remains the top global supplier of networking gear, despite a drop in revenue.
According to the Axios:
Huawei announced its year-end results on Monday showing that profits totaled 113.7 billion Chinese Yuan (roughly $100 billion), an increase of 75.9% year-on-year. Revenue fell to 636.8 billion Chinese Yuan, a 28.6% drop.
