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Huawei’s revenue is rising despite US sanctions

He said chairman a company Huawei in turns on Tuesday: The Chinese giant saw slight growth in revenue and profits in 2020, in line with its expectations, even as Washington tightens sanctions on the Chinese telecom equipment maker.

The company was placed on an export blacklist from former US president (Donald Trump) in 2019, which prevented it from accessing critical technology of American origin, and affected its ability to design its own chips and sourced components from outside vendors.

Huawei has repeatedly denied that it poses a security risk, and rotating chairman (Ken Hu) Ken Hu said at an industry event at the Mobile World Congress in Shanghai: Huawei faced some unusual difficulties last year.

“Operations have been relatively stable and in line with our directives, with slight growth in revenues and profits,” he added.

Earlier this month, the company’s founder and CEO, Ren Zhengfei, said he hoped the Biden administration would adopt an open policy toward US companies doing business with Huawei in his first comments to the media within about a year.

A Ministry of Information and Information Technology official said on Tuesday that China has so far spent more than 260 billion yuan (40.27 billion dollars) building the 5G network.

On Monday, Huawei unveiled its new Mate X2 foldable phone, which uses the company’s own Kirin processor.

Although the cheapest version of the phone starts at 17,999 Yuan ($ 2,788), it is not in a position to challenge the mainstream phone market.

Huawei has built 50,000 5G base stations in Indonesia, Hu said, adding that it plans to build 2,000 base stations in remote areas of Ghana.

A company spokesman said: It is expected that Huawei will announce its full-year financial results in March.

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