Huawei’s net profit surged 76% in 2021

Huawei Technologies' net profit rose 76 per cent in 2021 despite its first-ever decline in revenue because of the Covid-19 pandemic.

Huawei achieved $99.97 billion in revenue in 2021 and $17.85 billion in net profits, as per the company's 2021 Annual Report revealed today.

Huawei Technologies (Bangladesh) Ltd organised an event at a hotel in Dhaka to mark Huawei's annual report release.

The company's research and development expenditure reached $22.40 billion in 2021, representing 22.4 per cent of its total revenue, and bringing its total R&D (research and development) expenditure over the past 10 years to over $132.66 billion, according to a statement.

Meng Wanzhou, Huawei's chief financial officer, said, "Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty."

Pan Junfeng, CEO of Huawei Technologies (Bangladesh) Ltd, said the ICT-based future will create many needs for skilled youth in the world. One of the great strengths of Bangladesh is the youth of this country, Junfeng said.

"We want the youth of this country to create their place in the world market and take Bangladesh forward with their skills and great ideas."

Huawei Bangladesh's Board Member Jason Lizongsheng, its Chief Technical Officer Kevin Xu, and Director of Public Affairs and Communications Yuying Karl were present at the event.