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Xplore android12/19/2023 ![]() Meng was detained in Canada for nearly three years after her arrest on U.S. restrictions are now our new normal and we're back to business as usual," said Sabrina Meng, Huawei's chief financial officer.Īlso known as Meng Wanzhou, she is the daughter of Huawei's founder and will become its rotating chairwoman from April 1, a role that allows her to oversee Huawei's businesses for six months. "The year 2022 is a year where Huawei pulled ourselves out of a crisis mode. Huawei reported a higher-than-usual 113.7 billion yuan ($16.6 billion) in profit in 2021 due to the sale of Honor, its budget smartphone business. sanctions, an increase in commodity prices and R&D spending, as well as a decline in the company's consumer business, which mostly sells smartphones. Its net profit for the year was 35.6 billion yuan ($5.2 billion), down 68.7% from 2021 amid pressures from the pandemic, U.S. Huawei its revenue in 2022 reached 642.3 billion yuan ($93.5 billion), a 0.9% gain from the year before. "While it's true that we have considerable pressures ahead of us, we still see opportunities to grow a resilient business portfolio, a unique competitive edge, the trust of our customers and partners and have the courage to invest heavily in R&D," Eric Xu, the outgoing rotating chairman of Huawei, said at a news conference.
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