2019 brought many ups and downs for Huawei but by presenting an overall record of this year, the company’s revenue rose to a record 18% Year on Year (YoY) despite all the challenges from the Trump administration.
Eric Xu, Huawei’s rotating chairmen, says in a letter to its Huawei staff and customers in which he forecasted a difficult year ahead, saying that the firm was unlikely to grow as fast as it did in the first half of this year.
The revenue graph of Huawei comes at 18% revenue growth and 850 billion yuan ($121.72 billion) in 2019, which is a record earning compared to last year but Xu believes that it’s still a lower growth rate than the expectations.
Xu did not reveal the complete Q4 results but according to Reuters, based on previous statements, revenue in the quarter to end December 31 rose to 240 billion yuan ($23.28 billion), 3.9% from a year earlier and slower than the 27% increase it reported in the Q3.
“The external environment is becoming more complicated than ever, and downward pressure on the global economy has intensified,” he said.
“In the long term, the US government will continue to suppress the development of leading technology – a challenging environment for Huawei to survive and thrive.”