China’s Huawei says 2021 sales down, profit up

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Chinese telecom equipment maker Huawei says its 2021 sales fell but profit rose 75.9% despite U.S. sanctions in a year when its chief financial officer was released by Canadian authorities, ending a standoff with Washington over its dealings with Iran. Huawei Technologies increased its emphasis on serving hospitals, mines and other industrial customers after its smartphone business, once one of the biggest, was crippled by curbs on access to U.S. components and other technology in 2019. Huawei is caught in the middle of U.S.-Chinese tension over technology and security. American officials say Huawei, the biggest maker of network gear for phone carriers, is a security risk that might enable Chinese spying, an accusation the company rejects.