People walk past a Huawei sign at CES Asia 2018 in Shanghai June 14, 2018. — Reuters picSHANGHAI, March 31 — Chinese telecom giant Huawei said today it achieved a record profit last year, but revenue growth slowed sharply amid the pandemic and tightening US pressure that has pushed the company into new business lines to survive.
Before the US pressure began, revenue growth was routinely in the neighbourhood of 30 per cent or more, though it slowed to around 19 per cent in 2019. Huawei said its consumer products division — which makes smartphones and other personal devices and accounts for more than 50 per cent of overall revenue — managed 3.3 per cent sales growth in 2020.
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