The Chinese technology giant’s net profit fell in 2024 as higher expenses weighed, but solid revenue growth signals that the company is making a comeback after years of heavy U.S. sanctions that have affected its businesses.

Huawei has been trying to adapt its business to deal with U.S. sanctions that have restricted its access to key technologies like semiconductors.

Chinese telecoms gear giant Huawei says its net profit fell 28% in 2024 while its revenue surged, as the company invested heavily in advanced technologies