Chinese tech giant Huawei is still reeling from the heavy sanction regime imposed by the United States government that has led to a downward spiral of its revenue from its 2020 results. Reports monitored in China indicate that Huawei has projected a 28.9% revenue decline compared to its returns last year.
The 2021 revenue projection stood at 634 billion yuan, while the fourth-quarter results show a 19% slowdown from the previous quarter, and the Q4 revenue is projected at 178.2 billion. Huawei has had a remarkable rebound in some aspects of its businesses but the biting effects of the US sanctions are still visible in its balance sheet. Huawei is still unable to generate new products and sell to the various markets where it had established a foothold before the heavy blow from the United States and some of its allies.
Huawei’s current chairman Guo Ping says its telecom business remains strong, while its other lines of operations are also growing rapidly. The decline comes from the device business of the company which was brought to a screeching halt by the sanctions. Huawei remains positive and insists that it will not change its ideals due to changes in the external environment, but will continue to pursue its ideals despite the bottlenecks.
The company continues to engender staff confidence with its positive outlook for 2022, with numerous opportunities for a much better 2022 performance.
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(via)
