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Huawei Reports 18% Surge in 2018 Revenue

Financial results News - Published on Fri, 03 Jan 2020

Image Source: Eric Xu Huawei
Chinese telecom giant Huawei Technologies said Tuesday that its sales rose about 18% in 2019 despite US moves to restrict its business. The estimate came in an annual New Year’s message to employees from Chairman Mr Eric Xu. Mr Xu said in the New Year’s letter “Revenue exceeded CNY 850 billion (USD 122 billion) this year, which marks an 18 percent YoY increase. These figures are lower than our initial projections, yet business remains solid and we stand strong in the face of adversity.”

The letter predicted a difficult year in 2020, saying that the American pressure creates a challenging environment for Huawei to survive and thrive. He said “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. The company would focus on sustaining growth, boosting its capabilities, optimizing its organization, and controlling risks.”

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Posted By : TelecomGuru on Fri, 03 Jan 2020
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