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Home Business Huawei 2020 revenue ticks up despite U.S. sanctions, chairman says By Reuters

Huawei 2020 revenue ticks up despite U.S. sanctions, chairman says By Reuters

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© Reuters. FILE PHOTO: Huawei brand is pictured on the headquarters constructing in Reading

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By Josh Horwitz

SHANGHAI (Reuters) – Huawei Technologies noticed slight revenue and revenue development in 2020, in step with its expectations, its rotating chairman stated on Tuesday, whilst Washington toughened up sanctions in opposition to the Chinese telecom tools maker.

The firm was placed on an export blacklist by former U.S. President Donald Trump in 2019 and barred from accessing important know-how of U.S. origin, affecting its capacity to design its personal chips and supply parts from exterior distributors.

Huawei has repeatedly denied it poses a safety threat.

“Huawei was confronted with some extraordinary difficulties last year,” rotating Chairman Ken Hu stated at trade occasion Mobile World Congress Shanghai.

“Operations were relatively stable and in line with our guidance, registering slight growth in revenue and profit.”

Earlier this month, the corporate’s founder and Chief Executive Ren Zhengfei stated he hoped the Biden administration would “harbour an open policy” in the direction of U.S. corporations doing enterprise with Huawei in his first feedback to the media in a few yr.

China has to date spent greater than 260 billion yuan ($40.27 billion) in constructing its 5G community, an official with the Ministry of Information and Information Technology stated on Tuesday.

Huawei on Monday unveiled its new 5G Mate X2 foldable telephone, which can use the corporate’s proprietary Kirin processor.

Though with the most affordable mannequin beginning at 17,999 yuan ($2,788), the telephone is just not positioned to problem the mainstream telephone market.

Huawei set up 50,000 5G base stations in Indonesia, Hu stated, including that it plans to construct 2,000 base stations in distant areas of Ghana.

The firm is predicted to submit its full-year ends in March, a spokesman stated.

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