BEIJING – Chinese tech giant Huawei said Wednesday it eked out a gain in sales and profit last year but growth plunged after its smartphone unit was hammered by U.S.
sanctions imposed in a fight with Beijing over technology and security. China’s first global tech brand reported sales of phones, network gear and other technology rose 3.8% over 2019 to 891.4 billion yuan ($135.8 billion), a decline from the previous year’s 19.1% growth.
That was propelled by a 15.4% gain in China, while sales in other markets shrank. Huawei Technologies Ltd. is struggling to keep its global markets after then-President Donald Trump in 2019 cut off access to U.S.