Huawei’s revenue hits record despite U.S. sanctions
The company’s full-year revenue would likely jump 18%
Stocks impacted: Huawei Culture Co Ltd (002502)
Huawei Technologies revealed that the company’s full-year revenue would jump 18% to $121.7 billion. Despite this is lower than the earlier projection, it is still impressive given that the firm has been backlisted from doing business with US-based companies without permission from the government. The company sold 240 million smartphones this year, a 17% jump from 2018. A top Huawei executive says the Chinese tech company had a strong 2019 but next year promises to be difficult amid a prolonged American campaign against its business. As a reminder, the U.S. government alleges Huawei equipment pose national security risks because they could be used by the Chinese government to spy on users.
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