Money Huawei makes billions despite US sanctions

19:55  31 march  2021
19:55  31 march  2021 Source:   ksta.de

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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.

Ein Huawei-Laden in Peking: Dank des Heimatmarkts wuchs das Geschäft des chinesischen Tech-Riesen weiter. © 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 gain rose by 3.2 percent to 64.6 billion yuan (8.4 billion euros), as Huawei announced on Wednesday.

The US government had further tightened its sanctions against Huawei last July. The new measures are intended to access the Chinese smartphone provider and network supplier access to chips from international production. United States, Huawei, among other things, occupy 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," said the top manager. In particular, the decline in the sales of high-end smartphones is "relatively large".

Huawei makes billions despite US sanctions

 Huawei makes billions despite US sanctions 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 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

According to calculations of the market research company IDC, the smartphone paragraph of Huawei 2020 fell more than one-fifth to 189 million devices. Huawei, which once wanted to become the market leader, was thus in third place to Samsung and Apple worldwide. For the fourth quarter with the Christmas business, the descent accelerated to a minus of more than 40 percent.

Trigger for the crash on the world market was that Huawei could not sell any smartphones with pre-installed Google services due to US sanctions. This also includes the App Platform Play Store, which uses the users of Android telephones in the West mostly load their applications.

The chip sanctions caused further problems. Huawei can only produce high-end smartphones because it had created a supply of chips, Jiang Xisheng said. Experts like Ranjit AtWal from the market research firm Gartner assume that the supply purchases of Huawei were one of the triggers for the current chip scarcity, which, among other things, caused production losses for automakers.

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to produce the missing components themselves, was not an option, said the Huawei manager. "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.

Meanwhile, other business units help to compensate for part of the declines. The business with Wearables like computer watches or other consumer sector devices 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.

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This is interesting!