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Huawei’s profits more than doubled last year after it ignored US sanctions.
The Chinese telecommunications giant said its 2023 revenues rose 144.5 percent to £9.54 billion from a year earlier, thanks to revenues of £77 billion, which rose 10 percent.
The US restricted Huawei’s access to 5G technology in 2019 over spying fears. Britain also insisted in 2020 that it would sanction Huawei from this technology by 2027.
Bouncing back: US restricted Huawei’s access to 5G technology in 2019 over spying fears
But recovery continued, with last year marking the third straight year of growth after a torrid 2021.
“We have been through a lot in recent years, but through one challenge after another we have managed to grow,” said Chairman Ken Hu.