Huawei has announced record financial results for the last year. The company’s revenue increased to $105 billion, a 20 percent annual rise, while profit was up by 25 percent to $8 billion. The New York Times notes that the results put Huawei in the same league as Google and Microsoft, which both passed the $100 billion milestone last year.
The strong results were driven by a massive 45 percent growth in revenue from Huawei’s smartphone division. Its consumer electronics unit as a whole made up almost half of the company’s revenue for the past year, generating around $52 billion in revenue off the back of flagship phones such as the Mate 20 Pro and P20 Pro.
