The Us sanctions against Huawei had a drastic impact on its global business and sharply slowed its revenue growth in 2020. Yet the Chinese tech giant is determined to fight back and rely on other countries for growing its business if the Us does not change its policy towards the company.
The annual results for 2020 published in March showed that growth at Huawei had slowed, with the Chinese tech giant’s sales revenues going up 3.8 percent to almost $136.7 billion from a year ago and net profit rising 3.2pc to $9.9bn in spite of the US sanctions that brought about serious operational difficulties for the firm in 2019 and 2020.
“The US sanctions have had a very big impact on Huawei’s business. If not for this impact, I think the company’s latest annual report would probably have shown 15pc or 20pc growth – both in terms of revenues and profits,” Karl Song, global vice president of corporate communications at Huawei
Elaborating further, Mr. Song said that in the second quarter of 2020 Huawei shipped 55 million high-end smartphones, making it the top-selling brand in the world, surpassing Samsung. “We were already under sanctions at this point, and we still managed to temporarily achieve this position as the world’s number one. If not for the sanctions, we could have remained on the top spot for years.”