Huawei Says Last Year’s Sales Increased 19 Percent Amid US Sanctions

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Huawei is still grappling with Washington’s crackdown that kicked off in May 2019, when the US Department of Commerce placed the Chinese telecom giant on a blacklist, citing accusations that the company was a threat to national security. Both Huawei and Beijing have repeatedly denied the allegations.

Huawei on Tuesday announced that its sales in 2019 increased by 19.1 percent as compared with 2018 to 858.8 billion yuan ($123 billion), in sync with the 19.5 percent gain.

Profits, however, surged just 5.6 percent to 62.7 billion yuan ($9 billion), in comparison with 2018’s 25 percent growth level.

At the same time, he predicted that “the external environmental will only get more complicated going forward”.

Senior WH Officials Reportedly Agree to Cut Huawei From Global Chip Supply

Eric Hu’s statement comes after CNBC cited unnamed sources as saying last week that senior officials in the Trump administration had agreed to new measures to cut Huawei from the global chip supply industry.

If adopted, the restrictions could specifically target Taiwan-based TSMC, a major supplier of chips to Huawei’s semiconductor subsidiary HiSilicon.

He underscored that surviving as a company is not a problem for Huawei but that “it’s questionable whether we can keep our leading position”.

He pledged that Huawei will continue to boost investment in research and development, noting that Huawei’s 2020 budget had jumped from $15 billion to $20 billion. Even so, a complete decoupling from the American economy would be “impossible”, he said, adding that “US firms will also need [Huawei as a client] to survive as globalisation becomes increasingly important.

US Clampdown on Huawei

US authorities tightened the screws on Huawei in May 2019, when the US Department of Commerce put the Chinese tech giant on its blacklist, barring the company from trading with US companies and suppliers.

Washington levelled accusations that the Chinese tech behemoth poses a threat to the country’s national security, allegations that both Huawei and Beijing vehemently deny.

Washington also began a campaign of discouraging countries from allowing the firm to build national 5G networks using similar claims, despite rejections from the UK, France, Germany, the Czech Republic, and some Canadian telecom providers.

Sourse: sputniknews.com

Huawei Says Last Year’s Sales Increased 19 Percent Amid US Sanctions

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