Huawei’s 2020 revenue rises despite US sanctions

Huawei Technologies showed slightly higher revenue and profit growth in 2020, meeting expectations despite Washington’s toughening of its sanctions against the Chinese telecom equipment maker.

It was placed on the export ban list by former US President Donald Trump in 2019 and was denied access to critical technologies of American origin, affecting its ability to design its own chips and source parts from outside sources.

But the company has repeatedly denied that it poses a security risk, and earlier this month, the company’s founder and CEO, Ren Zhengfei, said in his first comment to the media in nearly a year that he hoped the new Biden administration would “adopt an open policy” toward US companies that do business with Huawei.

China has so far spent more than 260 billion yuan ($40.27 billion) on a 5G network building project, and Huawei on Monday unveiled its new 5G foldable phone, the Mate X2, that uses the company’s Kirin processor, although the cheapest model of this phone starts at 17.999 yuan ($2788), it is not in a position to compete in the phone market.

It is reported that Huawei has established about 50,000 base stations that support the fifth generation 5G in Indonesia, and also aims to build about 2,000 base stations in remote areas of Ghana, and sources said that the company is expected to publish its annual results in the month of March.

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