Report

rss

Iraq News

Kurdistan

Economy

World

All News

China's Huawei says 2021 revenues down almost 30%, sees challenges ahead

Category: World

Date: 2021-12-31T07:32:49+0000
China's Huawei says 2021 revenues down almost 30%, sees challenges ahead

Shafaq News / Chinese telecoms equipment giant Huawei Technologies Co Ltd (HWT.UL), battered by U.S. sanctions, expects 2021 revenue to have declined nearly 30% and predicted continued challenges in the New Year.

Revenue for the year is expected to be 634 billion yuan ($99.48 billion), rotating chairman Guo Ping said in a New Year letter to employees on Friday.

That represents a fall of 28.9% from 2020 revenues of 891.4 billion yuan.

Guo said next year "will come with its fair share of challenges" but that he was satisfied with Huawei's 2021 business performance.

"An unpredictable business environment, the politicisation of technology, and a growing deglobalisation movement all present serious challenges," the letter, published on the company's website, read.

In 2019, the U.S. Trump administration imposed a trade ban on Huawei, citing national security, which barred the company from using Alphabet Inc's (GOOGL.O) Android for its new smartphones, among other critical U.S.-origin technology.

The U.S. sanctions, together with weaker domestic consumption due to the coronavirus, weighed on Huawei.

Source: Reuters

related

China unveils 600 kph maglev train

Date: 2021-07-20 18:05:29
China unveils 600 kph maglev train

China’s Latest Delta Outbreak its Most Widespread Since Wuhan

Date: 2021-11-03 19:30:32
China’s Latest Delta Outbreak its Most Widespread Since Wuhan

China reports 92 new coronavirus cases for Oct 31 vs 71 day ago

Date: 2021-11-01 05:45:42
China reports 92 new coronavirus cases for Oct 31 vs 71 day ago

Australian journalist detained in China

Date: 2020-08-31 17:55:24
Australian journalist detained in China

China Locks Down Millions More As Covid Spreads

Date: 2022-03-21 07:44:24
China Locks Down Millions More As Covid Spreads

Biden administration to hold its first meeting with China next week

Date: 2021-03-10 18:50:47
Biden administration to hold its first meeting with China next week

China reports 55 new COVID-19 cases as Delta variant spreads in Nanjing

Date: 2021-07-31 06:56:33
China reports 55 new COVID-19 cases as Delta variant spreads in Nanjing

US Warns China Over Pressure on Taiwan Ahead of Biden-Xi Summit

Date: 2021-11-14 05:44:37
US Warns China Over Pressure on Taiwan Ahead of Biden-Xi Summit