Huawei chairman says the ‘aim is to survive’ as revenue slides 29%

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• The Shenzhen-headquartered company, which was put on the U.S. trade blacklist in 2019, announced Friday that it generated 320.4 billion yuan ($49.6 billion) in revenue in the first half of 2021. It’s a significant fall from the 454 billion yuan that Huawei recorded in the first half of 2020.
  
• Huawei said it recorded a 9.8% profit margin, which is its highest since 2019, and added that the overall performance was in line with forecasts.
  

The chairman of Huawei said the Chinese technology company’s “aim is to survive” as revenue fell almost 30% in the first half of the year.

The Shenzhen-headquartered company, which was put on the U.S. trade blacklist in 2019, announced Friday that it generated 320.4 billion yuan ($49.6 billion) in revenue in the first half of 2021. It’s a significant fall from the 454 billion yuan that Huawei recorded in the first half of 2020.

Huawei said its profit margin grew 0.6% to 9.8%, largely as a result of efficiency improvements, and added that the overall performance was in line with forecasts.

Eric Xu, Huawei’s rotating chairman, said in a statement that the company had set its strategic goals for the next five years.

“Our aim is to survive, and to do so sustainably,” he said.

Former U.S. President Donald Trump put Huawei on an export blacklist in 2019, a move that prevents American firms from doing business with it. For instance, Google was no longer allowed to license its Android mobile operating system to Huawei.


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