Huawei reaches record $122 billion revenue despite US government sanctions, warns of tough times ahead

Huawei reaches record $122 billion revenue despite US government sanctions, warns of tough times ahead 1
Recap: It’s been a strange year for Huawei. In May, the Chinese giant was added to an Entity List that effectively banned US organizations from doing business with it, yet the company still managed to reach a record $122 billion in revenue during 2019. But the firm has warned that 2020 will be a lot more challenging as it goes into “survival mode.”

In a New Year’s message to employees, rotating chairman Eric Xu wrote that revenue exceeded 850 billion Chinese Yun ($122 billion) this year, which marks an 18 percent YoY increase. While this is a record high for the company, sales figures were still lower than initially forecast. The 240 million handsets it sold in 2019 was up from 206 million last year.

“These figures are lower than our initial projections, yet business remains solid and we stand strong in the face of adversity,” wrote Xu, who added that success came despite” concerted efforts to keep us down” by the US government.

Despite having a good year, Xu believes that if the US government continues “to suppress the development of leading technology,” it will result in a “challenging environment for Huawei to survive and thrive.”

“Survival will be our first priority,” said Xu. He added that the company would focus on sustaining growth, boosting its capabilities, “optimizing” its organization, and controlling risks.

While the US has asked its allies not to use Huawei’s 5G equipment in their networks, not every country has agreed to this request. India is allowing Huawei to participate in trials of its 5G spectrum, while UK security chiefs have reportedly told Prime Minister Boris Johnson to allow Huawei to provide Britain’s 5G networks.

Last week, Huawei denied a report that it had been given an advantage over its competitors by receiving up to $75 billion in Chinese government aid.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Cryptosoft
Cryptosoft Trading Bot Review
June 27, 2022
The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
Scammers
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Is The Crypto Market Combating A Lehman Brothers Moment?
Is The Crypto Market Combating A Lehman Brothers Moment?
June 30, 2022
Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin19,278 0.12 % 0.34 % 10.44 %
Ethereum1,076.9 1.05 % 2.91 % 13.45 %
Tether1.002 0.01 % 0.07 % 0.11 %
USD Coin1.002 0.06 % 0.05 % 0.16 %
BNB219.10 0.11 % 1.27 % 8.68 %
Binance USD1.007 0.45 % 0.52 % 0.49 %
Cardano0.4547 0.10 % 1.23 % 8.75 %
XRP0.3166 0.03 % 1.07 % 13.81 %
Solana33.33 0.34 % 2.75 % 21.37 %
Dogecoin0.06716 0.88 % 1.08 % 2.05 %

bitcoin
Bitcoin (BTC) $ 19,280.43
ethereum
Ethereum (ETH) $ 1,066.92
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 219.38
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.454451
xrp
XRP (XRP) $ 0.315862
solana
Solana (SOL) $ 33.29
dogecoin
Dogecoin (DOGE) $ 0.066616