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Huawei’s revenue hits record $122B this year despite U.S. sanctions, forecasts ‘difficult’ 2020

Huawei reported pliable receipt for 2019 on Tuesday as the embattled Chinese technology radical continues to rise despite prolonged American campaign against its business, but cautioned that growth next year could prove more challenging.

Eric Xu, Huawei’s rotating chairman, wrote in a New Year’s message to employees that the company’s income has topped 850 billion Chinese yuan ($ 122 billion) this year, a new record high for the Chinese group and an 18% growth over the previous year.

Xu said Huawei, the second largest smartphone maker globally, sold 240 million handsets this year, up from 206 million last year.

” These people is less than our initial juttings, more business remains solid and we stand strong in the face of adversity ,” he wrote.

He acknowledged that Huawei is confronting a “strategic and long-term” campaign against its business by the U.S. authority. If the campaign perseveres for long, it would create even more ” difficult ” environment for the 32 -year-old firm to “survive and thrive, ” he said.

Survival would be the company’s first priority in 2020, he said.

The U.S. added Huawei to the Commerce Department’s trade blacklist this year, and placed new restrictions on its clevernes to sell to — and maintain commercial relations with — American business. The U.S. government has also urged its allies to not use Huawei produces in construct the benefit of future generations of their telecom network infrastructure, to suggest that the Chinese company poses a threat to national security.

In October, U.S. Commerce Secretary Wilbur Ross said in a conference in New Delhi that he hopes that India, the world’s second largest telecom market,” does not unwittingly subject itself to untoward certificate gamble” by utilize 5G gear from Huawei.

But not all U.S. collaborators have heeded its opinion. On Monday, Huawei assured a great victory in India, which approved Huawei’s request to participate in ordeals of its 5G spectrum.

” We thank the Indian government for their continued faith in Huawei ,” Jay Chen, the company’s India CEO said in a statement.” We is our strong belief that exclusively technology innovations and high quality structures is likely to be the key to regenerate the Indian telecom industry ,” he added.

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