Huawei chairman says the ‘aim is to survive’ as revenue slides 30%

A cell phone reveals Huawei app interface. Huawei unveiled HarmonyOS, its personal working system in 2019. In June 2021, the corporate launched the working system on a smartphone for the primary time.

Costfoto | Barcroft Media | Getty Pictures

The chairman of Huawei stated the Chinese language know-how firm’s “purpose is to outlive” as income fell nearly 30% within the first half of the yr.

The Shenzhen-headquartered firm, which was placed on the U.S. commerce blacklist in 2019, introduced Friday that it generated 320.4 billion yuan ($49.6 billion) in income within the first half of 2021. It is a vital fall from the 454 billion yuan that Huawei recorded within the first half of 2020.

Huawei stated its revenue margin grew 0.6% to 9.8%, largely because of effectivity enhancements, and added that the general efficiency was consistent with forecasts.

Eric Xu, Huawei’s rotating chairman, stated in an announcement that the corporate had set its strategic objectives for the subsequent 5 years.

“Our purpose is to outlive, and to take action sustainably,” he stated.

Former U.S. President Donald Trump put Huawei on an export blacklist in 2019, a transfer that forestalls American companies from doing enterprise with it. As an example, Google was no longer allowed to license its Android mobile operating system to Huawei.

The blacklist blocks U.S. corporations from promoting or transferring know-how to Huawei until they’re granted a particular license. It has hampered Huawei’s capacity to design its personal chips and supply different elements.

Xu stated in April that Huawei has ramped up its analysis and growth funding as a part of its efforts to “maintain the corporate afloat, to handle provide continuity challenges brought on by U.S. bans, and to pursue sustainability effectively into the longer term.”

Huawei’s enterprise is break up into three subdivisions: service, enterprise and shopper.

The corporate stated its service enterprise, which sells 5G and different telecommunications infrastructure, grew steadily outdoors China within the first half of the yr. Nevertheless, in China, which is its largest market by far, it was affected by delays within the 5G community rollout.

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