China's Huawei says 2021 sales down, profit up

Chinese telecom equipment maker Huawei says its 2021 sales fell but profit rose 76% 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

BEIJING -- Chinese telecom equipment maker Huawei said Monday its sales fell but profit rose 76% in 2021, despite U.S. sanctions.

Huawei's chief financial officer was released by Canadian authorities last year, ending a standoff with Washington over the tech giant's dealings with Iran. The company is caught in the middle of tensions with Washington 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.

Huawei Technologies Ltd., China's first global tech brand, stepped up its emphasis on serving hospitals, mines and other industrial customers after its smartphone business, once one of the biggest, was crippled by the curbs imposed by Washington on access to U.S. components and other technology in 2019.