You are currently viewing Huawei Admits To Foreseeing A Difficult 2020 Despite 2019 Sales Revenue

Huawei Admits To Foreseeing A Difficult 2020 Despite 2019 Sales Revenue

  • Post author:
  • Post category:Uncategorized
  • Post comments:0 Comments

A Huawei executive has said that, although the Chinese tech company had a strong 2019, it faces a “difficult” 2020. This is due to a prolonged American campaign opposing its business.

 

The company forecasted a sales revenue of over $122 billion in 2019. This is an 18% increase over the previous year, according to Eric Xu, Huawei’s rotating chairman. Huawei also sold 240 million smartphones this year, a 17% jump from 2018.

 

Huawei Admits To Facing A Difficult 2020
Huawei

 

“These figures are lower than our initial projections, yet business remains solid and we stand strong in the face of adversity,” he says.

Xu, however, acknowledges that Huawei faces several challenges. Washington placed the company on a trade blacklist in May 2019, barring American companies from selling the company software and components without a license.

 

Because of these restrictions, new Huawei devices no longer have access to some important Google services. Researchers say global sales outside of China have been hurt.

Also read:
“Alien Attack?” Unidentified Swarm Of Drones Causes Panic In Colorado
Tesla Goes Global, Launches Model 3 Electric Cars In China, Shanghai
Wikipedia Publishes Most Popular Articles Of 2019, No 3 Will Surprise You

Xu hinted on future problems:

 

“We won’t grow as rapidly as we did in the first half of 2019, growth that continued throughout the year owing to sheer momentum in the market,

 

“It’s going to be a difficult year for us.”

Xu also pointed in the direction that Huawei plans to follow in its pursuits of success in the new year, highlighting a need to “drive the global development of 5G.”

 

Huawei still has access to several major markets, including Germany and the United Kingdom. This is despite efforts by the United States to discourage its allies from using the company’s equipment in their 5G networks.

Huawei to hone fighting ability to overcome “difficult” 2020

Xu also says that Huawei employees must be able to “hone our ability to fight and cut red tape.” In addition, he says:

 

“every one of us needs to fight inertia and rid ourselves of complacency.”

 

He further said that Huawei must reward high performance while removing “mediocre managers” who “have lost their enterprising spirit.” He also mentions that managers performing in the bottom 10% will be removed each year.

 

Make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can email us at info@plat4om.com. Also, don’t forget to subscribe to our YouTube channel HERE.

Leave a Reply