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

BEIJING/SHENZHEN (Reuters) - China's Huawei Technologies said on Monday its profit fell by almost a quarter in 2024 versus a year prior when income from the sale of its Honor handset unit provided an earnings boost, while its revenue grew at the fastest rate in five years.

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.