SHENZHEN, China :Huawei Technologies has identified helping businesses to use 5G technology, cloud computing and to improve their energy efficiency as ways to bolster the company in the face of mounting challenges, its rotating chairman said on Tuesday.
Rotating chairman Ken Hu said on Tuesday the company faced an even more daunting year than in 2021 as geopolitics, the COVID-19 pandemic, rising commodity prices and fluctuating exchange rates add to the sanctioned-hit company's difficulties. "We know in our hearts, Huawei still faces a lot of challenges and we need to redouble our efforts," he said, citing 5G, cloud computing and energy efficiency as growth areas for Huawei.
Huawei's revenue fell 29 per cent last year to 636.8 billion yuan , while net profit rose 76 per cent to 113.7 billion yuan, buoyed by the sale of budget smartphone unit Honor.