The privately held Chinese telecom giant posted total 2021 revenue of almost US$100 billion, down nearly 29 per cent from a year earlier. Its net income, however, increased almost 76 per cent. Huawei CFO Meng Wanzhou said in a statement that the firm was “more capable of dealing with uncertainty.” (The Logic)

Talking point: This is Huawei’s first full-year revenue decline based on publicly available reports since 2002. The announcement comes amid continuing U.S. sanctions that have barred Huawei from acquiring crucial components such as microchips, and cut it off from Google’s Android operating system, forcing it to create its own smartphone operating system. The company’s press conference is the first major corporate event Meng has led since returning to China from Canada, where she was detained for nearly three years due to an extradition case with the U.S.