Huawei Technologies posted a sharp 28% drop in net profit for 2024 despite a surge in revenue, as the Chinese telecoms and consumer electronics giant boosted investment in strategic technologies to counter U.

China's Huawei Technologies said on Monday its profit fell by over 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.