China’s telecom equipment giant Huawei Technologies, which has been hit by US sanctions, expects full-year revenue in 2021 to fall by about 30%, and expects challenges to continue in the new year.
In a New Year’s message to employees on Friday, the rotating chairman of the board of directors Gu Ping said that the total revenue for 2021 is expected to reach 634 billion yuan ($99.48 billion).
This is 28.9% lower than 2020 revenue of 891.4 billion yuan.
He also said that next year “will bring its share of challenges”, but he is satisfied with Huawei’s performance in 2021.
In 2019, the administration of former US President Donald Trump imposed a trade ban on Huawei, which prevented the company from using Alphabet’s Android system in Her new smartphones, along with other important American-origin technologies.
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