In its New Year’s Eve message to the employees, the Chinese Tech
Giant Huawei said that it will most likely report a record annual
revenue of $122 billion despite US sanctions and efforts to undermine
the Company.
According to a report by the Guardian, the Company’s rotating
chairman Eric Xu reported an 850-billion-yuan figure to its employees in
the message. Even though the number is lower than what Huawei predicted
in January 2019, Xu said it is still an 18% increase as compared to
2018’s annual revenue. He said:
The chairmen also mentioned that if the company wants to survive in
2020, it will have to go all out. Even though 2019 was a big year for
Huawei, the next will be ‘difficult’ as the US continues to ban
equipment, devices, and services from Huawei. Moreover, the Trump
administration has also barred Huawei from conducting business with US
firms.
In May this year, the US commerce department blacklisted Huawei under
an executive order by President Donald Trump. The US Justice Department
indicated in January that the company had been stealing American
Technology and violating trade sanctions against Iran.
2019 was a good year for the Chinese telecom maker since it received
two 90-day delays before the full ban came into effect. These six months
gave Huawei a big time window to stay afloat. However, Huawei will not
get any leniency in 2020, which might make things much harder.
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