Chinese network equipment provider and smartphone manufacturer Huawei slightly increased its revenue and profits last year — despite US sanctions. The exact figures are due to be published in March.
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The US said the sanctions were a response to China's increased naval activity in the region. The move comes just days before Joe Biden is set to take over as US president.
Amid a growing rift with the United States, China has announced a sanctions regime Beijing says will "protect the interests" of Chinese companies from "unreliable" foreign firms.
The Trump administration blacklisted the Chinese firm over security concerns last year. The US government has now announced further crackdowns, this time restricting the type of hardware that the tech giant can access.
For the first time ever, China's electronics giant Huawei sold more smartphones than the South Korea's Samsung in the last quarter, according to an industry tracker. Still, Huawei faces trouble on the global market.
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