Chinese tech giant Huawei on Friday said its profits more than doubled in 2023, as it ramps up efforts to bounce back a year that saw the company apparently defy US sanctions with the release of a high-end smartphone.
The Shenzhen-based company has been at the centre of an intense standoff between China and the United States — Washington has warned that its equipment could be used for espionage by the Chinese government, an allegation Huawei denies.
Sanctions since 2019 have cut the firm’s access to US-made components and technologies, forcing it to diversify its growth strategy.
Last year, Huawei said it generated a profit of 87 billion yuan ($12 billion), more than double 2022’s 35.6 billion yuan but short of its record profit of 113.7 billion yuan in 2021.
Revenues also surged by 9.6 percent.
“We’ve been through a lot over the past few years,” Rotating Chairman Ken Hu said Friday.
“But…
