Huawei Reports 28% Profit Drop Amid Global Uncertainty

Chinese tech giant Huawei has announced that its profits dropped 28% last year, attributing the decline to international economic uncertainty and weak domestic consumption.

A Huawei spokesperson attributed the decline to increased investments in future-oriented projects and the absence of one-time gains from business sales. I Photo: Huawei Philippines

The Shenzhen-based company has been at the center of a tense standoff between China and the United States after Washington accused it of espionage risks, an allegation Huawei has repeatedly denied.

Since 2019, U.S. sanctions have severely restricted Huawei’s access to American-made components and technology, forcing it to diversify its business strategy.

Huawei reported a net profit of 62.6 billion yuan ($8.6 billion) in 2024, down from 87 billion yuan in 2023, Agence France-Presse (AFP) reported. A Huawei spokesperson attributed the decline to increased investments in future-oriented projects and the absence of one-time gains from business sales.