Companies

Huawei delivers 'slight' growth in 2020

Reuters | Updated on February 23, 2021

‘Customers show significant level of confidence’

Shanghai, February 23 Chinese telecomequipment maker Huawei Technologies, which is struggling under the US sanctions, saw slight growth in its annual performance, helped by significant levels of confidence from its customers.

Huawei was confronted with "extraordinary difficulties" last year, though operations were relatively stable, with partners continuing to support the company, rotating Chairman Ken Hu said at the Mobile World Congress on Tuesday.

The telecom equipment maker was put on an export blacklist by former US President Donald Trump in 2019 and barred from accessing critical technology of US origin, affecting thecompany's ability to design its own chips and source componentsfrom outside vendors.

The company has repeatedly denied it poses a security risk.

Earlier this month, the company's founder and Chief Executive Ren Zhengfei said he hoped the Biden administration would "harbour an open policy" towards US firms doing businesswith Huawei in his first comments to the media in about a year.

Ren said the company saw positive growth and net profit in 2020.

China has so far spent more than 260 billion yuan ($40.27billion) in building its 5G network, an official with the Ministry of Information and Information Technology said onTuesday.

Huawei on Monday unveiled its new 5G Mate X2 foldable phone, which will use the company's own proprietary Kirin processor.

Though with the cheapest model starting at 17,999 yuan ($2,788), the phone is not positioned to challenge the mainstream phone market.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 23, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.