"Tech Giants Report Mixed Financial Results Amidst Global Challenges"
Huawei reported a 69% YoY decline in net profit for 2022, its biggest annual decline on record, due to U.S. sanctions and China's pandemic controls. However, revenue rose 0.9% to 642.3 billion yuan as the company diversified into new areas like cloud computing and automotive technology. Huawei's consumer business, which houses its smartphone unit, fell more than 11% to 214.5 billion yuan in 2022, but the decline was less sharp than in 2021. Huawei's carrier business generated 284 billion yuan in revenue, a 0.9% YoY rise, while its enterprise business rose 30% YoY to 133.2 billion yuan.