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Money Huawei makes billions despite US sanctions

17:30  31 march  2021
17:30  31 march  2021 Source:   t3n.de

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Huawei has completed the past financial year despite the sanctions of the US with a slight sales and earnings growth. According to own information, a forward-looking approach has also helped.

Huawei trotzt den US-Sanktionen. © Huawei Huawei defies the US sanctions.

Despite Harter Sanctions of the US , the Chinese Technology Giant Huawei has completed the past financial year with a slight sales and earnings growth. As the company from South China Shenzhen announced on Wednesday, sales in 2020 was 891.4 billion yuan (surrounded by about € 115.8 billion) and thus 3.8 percent higher than in the previous year. Net income rose by 3.2 percent to 64.6 billion yuan (8.4 billion euros).

Huawei makes billions despite US sanctions

 Huawei makes billions despite US sanctions Huawei has completed the past year with a billion profit despite hard sanctions of the US. The Chinese Technology Group benefited from the strong position in the home market, while internationally, among other things, the smartphone sales bagged. © Andy Wong / ap / dpa A Huawei loading in Beijing: Thanks to the home market, the business of Chinese Tech Giant grew further. Sales of the company from South China Shenzhen rose by 3.8 percent to 891.4 billion yuan by 2020 (around € 115.8 billion).

The US government had further aggravated its sanctions against Huawei last July to capture access to chips from international production to the Chinese Group. The USA threw Huawei under Andrem espionage, which the Group rejects. By and large, the business went very well, said the Chief Secretary of the Huawei board, Jiang Xisheng, the German Press Agency. But "Of course we have many difficulties because of the US sanctions," says the manager. In particular, the decline in the sales of high-end smartphones whose chips are particularly affected by US sanctions is "relatively large".

Supply of Chips helps via sanctions

Huawei can only produce these devices only because it has created a supply of chips before the sanctions came into force. Even the missing components to produce is not an option. "The production of these chips is very complicated and is currently impossible for us. We do not consider that ". But it is worked on alternatives and solutions that diversify supply chains to not depend on individual suppliers or countries. This could also include increased cooperation with European partners.

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Meanwhile, other business units help to compensate for part of the declines. The business with Wearables such as Smartwatches or other consumer equipment such as headphones, laptops and smart screens develop "very good".

In addition, Huawei works about products for networked cars and intelligent vehicles. "We want to put a focus on this area in the future," said Jiang Xisheng. Expressly wool Huawei does not produce vehicles themselves, but reinforces as a supplier with manufacturers working together. You have also interested in other cooperations with German carshakers. DPA

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