Huawei increased its investment in R&D and expanded its R&D staff last year as part of the vendor’s efforts to stabilize its business amid the sanctions imposed by the U.S. government
Huawei’s CFO Meng Wanzhou said the vendor’s R&D investment increased 13.2% year-on-year to CNY161.5 billion ($23.5 billion) in 2022, representing 25.1% of total revenue. In 2021, R&D investment in 2021 had accounted for 22.4% of total revenues.
The executive also said that R&D staff increased 6.2% to 114,000.
In 2022, Huawei reported a net profit of CNY35.6 billion, a decline of 68.7% year-on-year. Huawei noted that the figure for 2021 included one-off gains from the sale of its Honor sub-brand.
