Huawei records a 29% drop in the first half of the year: “The goal is to survive”
the Rotating President of Huawei, Eric Xu, said that “Chinese tech company’s goal is survival”, as such Revenue is down nearly 30% in the first half of the year.
The company headquartered in Shenzhen, which is listed in US trade blacklist In 2019, she announced this Friday that she was born 320.4 billion yuan ($49.6 billion) in revenue in the first half of 2021, which is a significant decrease from the 454 billion yuan ($70.2 billion) that Huawei reported in the first half of 2020.According to the American series CNBC.
The company claimed that its profit margin grew by 0.6% to 9.8%, largely as a result of improved efficiency, ensuring that overall performance was in line with expectations.
Eric Shaw reported in a statement that the company has set its strategic goals for the next five years. “Our goal is to survive, and to do so in a sustainable way”He said, according to CNBC.
Former US President Donald Trump added Huawei to an export blacklist in 2019, a measure that prevents North American companies from doing business with companies listed on the payroll. One example is Google, which is no longer allowed to license the Android mobile operating system to Huawei.
The blacklist prevents US companies from selling or transferring technology to Huawei unless it is granted a special license. This has hampered the Chinese company’s ability to design its own chips and source other components. According to CNBC.
Xu said last April that Huawei has Increase your investment in research and development As part of its efforts “to keep the company afloat, meet the continuity of supply challenges caused by the US embargo, and strive for future sustainability.”
Huawei mentioned it Year on year consumer business revenue fell to 135.7 billion yuan ($21 billion) from 255.8 billion yuan ($39.5 billion)It attributed the decline to the sale of its Honor brand at the end of 2020.
Its carrier, which sells 5G and other communications infrastructure, saw how First-half revenue fell to 136.9 billion yuan ($21.1 billion) from 159.6 billion ($24.7 billion) in the first half of 2020..
Huawei said that Business outside China grew steadily in the first half of the year. but nevertheless, In the Asian country, the company stated that it was affected by the delay in the deployment of the 5G network. The company said it expects the carrier’s business to continue to grow steadily over the next six months thanks to the efforts of 5G from China Mobile, China Broadcasting Network, China Telecom and China Unicom.