The company's performance was largely shored up by its sales in China, with an increase of 15.4% in revenue up to 584.9 billion yuan.
In all major regions, Huawei saw a downward trend in revenue: for the Asia-Pacific (apart from China) revenue was down 8.7% to 64.4 billion yuan, in the Americas the fall was steeper at 24.5% to 39.6 billion yuan and the EMEA region saw revenue of 180.8 billion yuan, a drop of 12.2%.
In terms of its business units, Huawei reported its enterprise business had increased revenue by 23.0% to 110.3 billion yuan, the consumer business had also gone up, by 3.3%, to 482.9 billion yuan, while its carrier business was more or less flat, showing 0.2% growth and revenue of 302.6 billion yuan.
During the year, Huawei sold its budget smartphone business, Honor, and there were rumours, immediately shot down, that it would also sell off its high-end phone business.
The company's smartphone business has been affected by the fact that it is unable to source the proprietary Google apps — the PlayStore, Maps, YouTube and Drive, among others — that are part of the Android mobile operating system.
To cover for this, Huawei has developed its own mobile operating system named HarmonyOS based on the free version of Android, and also built an ecosystem for downloading apps known as Huawei Mobile Services.
"Over the past year we've held strong in the face of adversity," said Huawei's rotating chairman Ken Hu. "We've kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world.
"We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast.
"We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development."
Huawei board chairman Liang Hua commented: "While greater challenges might still lie ahead, Huawei is committed to open collaboration and global operations, and will continue to work with our global partners to cultivate open industry ecosystems.
"Together we will drive advancements in technology, promote industry development and create greater value for our customers and the global community."