China’s Huawei reported that it is likely to have 850 billion yuan ($121.72 billion) revenue in 2019. The world’s largest telecommunications equipment maker and the world’s second-largest smartphone maker predicted an 18% jump in revenue this year despite the U.S. high-stakes sanctions.
Although it fell short of its previous target, Huawei’s revenue in 2019 is continuing its steep growth.
According to Reuters on the 31st, Huawei’s Vice Chairman, Eric Xu, stated this in his New Year’s address to employees. He also explained that smartphone sales totaled 240 million units this year, up 17 percent from last year.
A steady revenue growth despite Trump’s 2019 Huawei Ban
The Donald Trump ban declared a state of national emergency and blacklisted Huawei. As well as for its affiliates in the name of national security after trade negotiations with China broke down in May. If U.S. companies want to do business with Huawei, they will need to get prior government approval.
In addition, the U.S. is campaigning against major allies such as Britain, Canada and Australia. It is pressing them to exclude Huawei equipment in the establishment of 5G network.
As a result, Huawei has been having difficulty in producing Smartphones. Due to limited transactions with U.S. companies such as Google and Facebook. This is because Google is not able to receive essential apps. Including apps such as Android and Google Maps, Gmail, YouTube and Play Store, which are operating systems for smartphones.
Huawei also introduced its flagship smartphone Mate 30, the first ever that does not have Google Apps in September.
The U.S. and China agreed on the first phase of trade negotiations in the middle of this month, but the issue of sanctions on Huawei was not included this time.
“The external environment is becoming more complicated than ever, and downward pressure on the global economy has intensified. In the long term, the US government will continue to suppress the development of leading technology – a challenging environment for Huawei to survive and thrive.” – Eric Xu.
