On the very last day of the decade, Huawei recorded a new high of $122 billion in revenue, an 18% increase from the previous year. The profit is significant because Huawei was a major target of Trump’s sanctions, so much so the company predicted a bleak outlook.
As of June, the company predicted the loss could be in the range of close to $100 billion between 2019 and 2020. The company’s rotating Chairman, Eric Xu disclosed that despite selling 34 million more smartphones than 2018, the margin figures were lower than their initial projections.
He also disclosed that the company is poised to stand strong despite the adversity while confronting a long term and strategic campaign against its business by the U.S Government.
He further disclosed that for the new year, survival is a key priority in 2020. Despite the effort of the U.S Government to warn that Huawei poses security risks to other of its allied nations, some wins have been secured by the telecom giant in places like India and some parts of Africa that have embraced the 5G technology.