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- Obama stumps for Harris, Trump talks US protectionism
- New-look France ease past Israel in Nations League
- Belgium fight back to draw with 10-man Italy in Nations League
- 'Get a life': Hurricane whips up US election storm
- Japan stay perfect in World Cup qualifying
- Relief as Lebanon evacuees dock in Turkey
- Lebanon says 22 dead in Israeli strikes on central Beirut
- NBA boss Silver sees games back in China 'at some point'
- Israel strikes central Beirut, killing 22
- Table tennis and Netflix push Ukraine teen into French Open contention
- Civilians flee Gaza's Jabalia in tightening Israeli siege
- Israel strikes central Beirut, killing 18
- At least 10 dead in Florida from tornadoes caused by Hurricane Milton
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- S.Sudan floods affect 893,000, over 241,000 displaced: UN
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- Windies sweat on injury to 'crucial' Taylor at World Cup
- Lebanon says 11 dead, 48 injured in Israeli strikes on Beirut
- Panama lashes out at EU over tax haven 'outrage'
- Erdogan says Gaza 'shame of humanity', calls for permanent ceasfire
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- 'Good opportunity': Nagelsmann upbeat despite Germany's long injury list
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- Lebanon state media says Israeli strikes hit central Beirut
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- France's City of Light switches to climate-resilient power cables
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- Djokovic tells Nadal: 'Your legacy will live forever'
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- After long fight for glory, Nadal leaves with a legacy of memories
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- UN peacekeepers say Israel fired on Lebanon HQ, injuring 2
- UK's William and Kate in first joint public engagement since cancer treatment
- Alcaraz out as top players pay tribute to Nadal at Shanghai Masters
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- Alcaraz, Sinner pay tribute to 'unbelievable' Nadal at Shanghai Masters
Chinese tech giant Huawei says profits more than doubled in 2023
Chinese tech giant Huawei on Friday said its profits more than doubled in 2023, as it ramps up efforts to bounce back a year that saw the company apparently defy US sanctions with the release of a high-end smartphone.
The Shenzhen-based company has been at the centre of an intense standoff between China and the United States -- Washington has warned that its equipment could be used for espionage by the Chinese government, an allegation Huawei denies.
Sanctions since 2019 have cut the firm's access to US-made components and technologies, forcing it to diversify its growth strategy.
Last year, Huawei said it generated a profit of 87 billion yuan ($12 billion), more than double 2022's 35.6 billion yuan but short of its record profit of 113.7 billion yuan in 2021.
Revenues also surged by 9.6 percent.
"We've been through a lot over the past few years," Rotating Chairman Ken Hu said Friday.
"But through one challenge after another, we've managed to grow."
The rise in profits follows a year in which the firm raised eyebrows in Washington with the release of its Mate 60 Pro smartphone.
Powered by an advanced domestically produced chip, it sparked debate about whether US attempts to curb China's access to semiconductor technologies had been effective.
US Commerce Secretary Gina Raimondo in December told Bloomberg the development was "deeply concerning".
And the Mate 60 Pro has shown the ability to bite into key competitor Apple's profits in China, analysts cited by Bloomberg have said.
Huawei remains the world's leading equipment manufacturer for 5G, the fifth generation of mobile internet, and has been involved in infrastructure projects in many countries.
The United States has sought to convince its allies to ban Huawei from their 5G networks, arguing that Beijing could use the group's products to monitor communications and data traffic.
In June last year, the European Commission ruled that Chinese telecom equipment suppliers -- including Huawei -- posed a security risk to the EU.
And last month, the French offices of Chinese telecoms giant Huawei were raided on suspicion of "improper behaviour", though no other details were immediately available.
In response to the US curbs, Beijing has repeatedly slammed what it characterises as Washington's "abuse of the concept of national security to hobble Chinese companies" and "discriminatory and unfair practices".
M.A.Colin--AMWN