Huawei’s revenue hits record $122B this year despite U.S. sanctions, forecasts ‘difficult’ 2020 By Manish Singh Huawei reported resilient revenue for 2019 on Tuesday as the embattled Chinese technology group continues to grow despite prolonged American campaign against its business, but cautioned that growth next year could prove more challenging. Eric Xu, Huawei’s rotating chairman, wrote in a New Year’s message to employees that the company’s revenue has topped 850 billion Chinese yuan ($122 billion), a new record high for the Chinese group and an 18% increase over the previous year. Xu said Huawei, one of the world’s largest smartphone makers, sold 240 million handsets this year, also up 17% since 2018. “These figures are lower than our initial projections, yet business remains solid and we stand strong in the face of adversity,” he wrote. He acknowledged that Huawei is confronting a “strategic and long-term” campaign against it by the U.S. government . If the campaign persi...
