Huawei released its 2021 annual report on Monday. Revenue of the telecom giant fell 29% in a year to RMB 636.8 billion ($99.9 billion). But the firm managed to increase its profit significantly, with net profit growing 76% to RMB 113.7 billion, a drastic progression from the 3% net profit growth rate in 2020. The revenues of Huawei’s two main businesses, consumer and carrier, dropped separately by 50% and 7% in 2021. Revenues of its enterprise business grew 2% in the same period. [Huawei press release]
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