Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

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

Huawei reported resilient revenue for 2019 on Tuesday as the embattled Chinese technology group continues to grow 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 revenue has topped 850 billion Chinese yuan ($122 billion), a new record high for the Chinese group and an 18% increase over the previous year.

Xu said Huawei, one of the world’s largest smartphone makers, sold 240 million handsets this year, also up 17% since 2018.

“These figures are lower than our initial projections, yet 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 it by the U.S. government. If the campaign persists for long, it would create a challenging environment for Huawei 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 ability to sell to — and maintain commercial relations with — American companies. The U.S. government has also urged its allies to not use Huawei products in building the next generation of their telecom network infrastructure, alleging 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 inadvertently subject itself to untoward security risk” by using 5G equipment from Huawei.

But not all U.S. allies have heeded its advice. On Monday, Huawei secured a major victory in India, which approved Huawei’s request to participate in trials 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 firmly believe that only technology innovations and high quality networks will be the key to rejuvenating the Indian telecom industry,” he added

More to follow…

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line
Post a Comment
Read more

ProtonMail logged IP address of French activist after order by Swiss authorities

ProtonMail , a hosted email service with a focus on end-to-end encrypted communications, has been facing criticism after a police report showed that French authorities managed to obtain the IP address of a French activist who was using the online service. The company has communicated widely about the incident, stating that it doesn’t log IP addresses by default and it only complies with local regulation — in that case Swiss law. While ProtonMail didn’t cooperate with French authorities, French police sent a request to Swiss police via Europol to force the company to obtain the IP address of one of its users. For the past year, a group of people have taken over a handful of commercial premises and apartments near Place Sainte Marthe in Paris. They want to fight against gentrification, real estate speculation, Airbnb and high-end restaurants. While it started as a local conflict, it quickly became a symbolic campaign. They attracted newspaper headlines when they started occupying prem
Post a Comment
Read more