June 14, 2024

Huawei is increasing its sales despite the sanctions

Huawei is increasing its sales despite the sanctions

Huawei reported sales of 891.4 billion yuan in fiscal year 2020. This is equivalent to about 128 billion francs, an increase of 3.8% compared to the previous year, according to the company reports. Profits are also growing: 64.6 billion yuan (about 9.3 billion Swiss francs) means growth of 3.2 percent.

Only in July 2020, the United States tightened its sanctions against Huawei. On charges of espionage The United States has cut off the Chinese tech giant’s access to chips from international production. Huawei He rejects the allegations. Jiang Shusheng, Huawei’s first secretary of the board, was not fooled by the good business results: “Of course, we have many difficulties due to the US sanctions.” In particular, sales of high-end smartphones, whose chips have been affected by the sanctions, have collapsed.

Production is still possible currently because Huawei has stocked chips. Producing the missing parts ourselves is not an option, says Jiang Xisheng. “Producing these chips is very complicated and currently impossible for us. We don’t think about that.” The group is looking for solutions to diversify its supply chains so that it does not depend on individual countries as suppliers.

Huawei announced that good work with wearables as well as laptops, headphones and smart displays helps to cope with losses. Additionally, the group wants to focus on connected cars and smart vehicles of the future – explicitly not as a product, but as a resource.

Recently showed Huawei Switzerland, How the company is working on “smart agriculture” projects in this country to introduce 5G in local agriculture. Read more about it here.

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