SHANGHAI (Reuters) – Huawei Technologies on Tuesday said full year revenues would be likely to jump by 18% in 2019, up to 850 billion yuan ($121.72 billion in total), was lower than the previous forecasts, such as the AMERICAN market is on the black list of places to impede the growth of and disrupts the ability to get to the source of the most important parts.
FILE PHOTO: mobile phone Huawei logo is pictured at the IFA consumer tech trade show in Berlin, Germany, on September 5, 2019 at the latest. REUTERS/Hannibal Hanschke
The world’s largest maker of telecoms equipment, on the network, and the Number 2 manufacturer of smartphones, was all but banned by the United States of america, in May, in order to do business with AMERICAN companies, who have access to technology such as Google’s (GOOGL.O) Android operating system.
The US government claims Huawei equipment for the national security at risk, as they may be, are used by the Chinese government to spy on its users. Huawei has repeatedly denied that its products are a serious threat to the safety and security.
Huawei’s Rotating President, Eric Xu turned out to be the tracks at a New Year’s message to employees and customers, in which he also predicted, by 2020, in order to be a “challenging year”, saying the company was likely not to grow as fast as in the first half of this year.
The estimate of 18% growth in revenue in 2019, is less than that in 2018, when the Huawei’s annual revenue rose by 19.5%.
The company does not break down in the fourth-quarter figures, but according to Reuters ‘ calculations on the basis of the previous statements, the revenues for the quarter up to the end of December. 31 amounted to 239.2 billion yuan ($23.28 billion), an increase of 3.9% from a year earlier, and is much slower than the 27% growth reported in the third quarter of the year.
“The external environment is becoming more complex than ever before, and the downward pressure on the world’s economy has been strengthened,” he said.
“In the long run, the U.S. government will continue to suppress the development of industry leading technology – challenging work environment, to Ascend to in order to survive and thrive.”
Xu also said that Huawei supplied with 240 million smartphones this year, an increase of over 20% by 2018. Huawei is mainly due to the sale of the smart phones that were launched prior to the ban.
The latest Level 30 and the first smartphone, went on sale in September, but it does not have access to a licensed version of Google’s Android operating system, because of trading curbs.
Xu said in the letter that the Smartphone would be in 2020, in the “go all out” in order to be build up by the chinese Mobile Services ecosystem, which includes services such as cloud-based storage and the app gallery, describing it as “the foundation of our ability to sell smart devices in markets outside of China.
It is also developing its own mobile operating system, known as Harmony, even though analysts have been skeptical that the system is a viable alternative.
Huawei’s reputation was tarnished earlier this month, after the details of the dismissal and the unlawful detention of an ex-employee went viral.
In his letter, Xu said that they were going to have to remove the mediocre managers and the complacent employees, if the Smartphone is required in order to get rid of it is the business of self-sufficiency, and that she was going to remove the managers are performing in the bottom 10% every year.
Reporting by Brenda Goh; Editing by Christian Schmollinger