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| Huawei's revenue continues to grow despite US sanctions |
Huawei's rotating chairman said today that the Chinese giant's revenue and profits will continue to increase slightly in 2020 even if Washington tightens sanctions against the Chinese telecom equipment maker.
The company was blacklisted for export by former US President Donald Trump in 2019, preventing the company from acquiring key technologies from the US and influencing the design and manufacture of its own chips. Receiving external suppliers.
Huawei has repeatedly denied that there are security risks. Rotating President (Hu Kane) said at an industry event at the Shanghai World Mobile Conference that Huawei had encountered special difficulties last year.
"Operations have been relatively stable. As per our guidelines, sales and profits increased slightly," he added.
Earlier this month, founder and CEO Ren Zhengfei had hoped the Biden administration would adopt an open policy for US companies doing business with Huawei for the first time in nearly a year when they turn to the media.
China has so far spent more than 260 billion yuan ($ 40.27 billion) on building a 5G network, an information and IT department official said on Tuesday.
Huawei launched its new Mate X2 foldable phone on Monday, which uses the company's Kirin processor.
Although the cheapest phone starts at 17,999 Yuan ($ 2788), it cannot challenge the traditional cellular market.
According to Hu, Huawei has set up 50,000 5G base stations in Indonesia and plans to build 2,000 base stations in remote areas of Ghana.
A company spokesman said: Huawei is expected to announce its annual financial results in March.