Chinese mobile giant Huawei reports slowest annual growth since 2011

(Reuters) — Chinese telecom equipment and smartphone maker Huawei Technologies said on Friday that net profit edged up just 0.4 percent last year, its slowest annual growth since 2011.
Huawei, the world’s No. 3 smartphone maker behind Apple Inc and Samsung Electronics Co Ltd, said net profit rose to 37.1 billion yuan ($5.3 billion).
Strong competition in China’s smartphone market from previously little-known domestic rivals OPPO and Vivo cost Huawei its top spot as the biggest