Huawei posts strong revenue in 2020 despite US ban

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Huawei’s 2020 annual report has been published and the company reports that the numbers are in line with what was forecasted: “marginal growth”. Huawei’s sales revenue weighed in at CNY 891.4 billion ( $136.7 billion) with net profit CNY 64.6 billion ($9.9 billion). Revenue is up 3.8% YoY and profits are up 3.2% YoY. This is despite US sanctions that were set in 2019 by the Trump Administration. Over the past year, we’ve held strong in the face of adversity. We’ve kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recover and social...

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