China’s Huawei says 2020 sales rose despite US sanctions

BEIJING (AP) — Chinese tech giant Huawei says it eked out a gain in sales and profit last year but growth plunged after U.S. sanctions damaged its smartphone business. China’s first global tech brand reported sales rose 3.8% over 2019 to 891.4 billion yuan ($135.8 billion), down from the previous year’s 19.1% growth. That was propelled by a 15.4% gain in China, while sales of phones, network gear and other technology in other markets shrank. Its chairman, Ken Hu, called the sanctions “very unfair.” The results reflect the damage from sanctions and point to a possible future for Huawei focused on China and network and on other products that are less vulnerable to foreign pressure.