Huawei profits plunge as former CFO takes top job

Chinese telecoms vendor Huawei has revealed a 69% fall in profit for 2022, which it blames largely on ‘non-market factors’.
It should be stressed that the previous year’s profit figure was inflated by some one-off disposals, including a server and a smartphone business. But profits of CNY 35.6 billion 2022 still represented just over half of the total from two years ago. A more positive datapoint for Huawei was it managed to slightly increase revenue, which had fallen dramatica