Top
image credit: 玄 史生 / Flickr

Huawei reports small increase in 2020 sales, profits despite U.S. sanctions

March 31, 2021

Chinese vendor Huawei reported its sales revenues reached CNY 891.4 billion (USD 136.7 billion) in 2020, up 3.8% year-on-year while its net profit rose 3.2% to CNY 64.6 billion, the company said in its annual report.

The company said that trade restrictions implemented by the U.S. government had impacted the company’s operations outside China.

In 2019, Huawei had recorded a 5.6% increase in profit and 19.1% rise in revenue.

The company’s revenue in China grew 15% to CNY584.9 billion, but fell in all other regions, down 12.2% to CNY180.8 billion in EMEA; 8.7% to CNY64.4 billion in Asia Pacific; and 24.5% nt in the Americas to CNY39.6 billion.

Read More on RCR Wireless News