Huawei Revenues Hit Record High Despite US Sanctions

Huawei has recently reported its 2019 revenues which have seen tremendous growth despite the long US ban on Huawei products.

According to Huawei chairman Eric Xu, the company’s revenue hit 850 billion Chinese Yuan ($122 billion) this year, the chairman sent this information as a New Year’s message to all Huawei employees, this is a new record high for the Chinese group and an 18% growth as compared to the previous year.

Commenting further on the performance of the Chinese group Xu said, “Huawei has become a second-largest smartphone maker in the world and it sold over 240 million units this year which was up from the previous 206 million units last year.”

However, the figures are lower than the estimates, but still, the business grows pretty well, he added.

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Huawei could not meet its initial projections because of many problems confronted on the global level, US sanctions and its call for allies banning Huawei products contributed to slower growth of the company.

The chairman also highlighted the fears about Huawei growth which could be more difficult in the future, he acknowledged the US campaign against the company that could prolong and create a more stagnant environment for the company’s growth, meanwhile the company is also leveraging possible growth opportunities to remain solid, he said.

He also said 2020 would be difficult year for the company and surviving would be the top priority of the company, in October, the U.S. Commerce Secretary Wilbur Ross urged India in a conference held in New Delhi hoping that India the world’s second-largest telecom market would not tolerate security risks and allow Huawei to build 5G infrastructure in the country. Luckily, Huawei remained pragmatic over the U.S. allegations of security risks and assured European countries that their products and services are safe, not all the US allies adhere to US advice and participated in Huawei 5G spectrum trials.