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Huawei expects 30% drop in 2021 revenue

Huawei president Guo Ping sent a letter to the company’s workers in which he said he expects a 30% drop in revenue for 2021, the result of sanctions imposed by the US over the past few years.

Huawei expects 30% drop in 2021 revenue

Huawei expects 30% drop in 2021 revenue

“We have to remain faithful to our strategy and respond rationally to external forces that are beyond our control”, declared the executive, noting however that 2022 will have “its fair share of challenges”.

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“An unpredictable business environment, the politicization of technology and a growing deglobalization movement present serious challenges,” warned Guo Ping.

While the firm has been “getting used to U.S. sanctions” imposed on it since 2019, its new 5G related business areas cannot offset the losses from the handset business, Xu, said at a press conference in Beijing on Friday.

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