Huawei chairman said that the 'aim is to survive' as revenue came down to 29%

August 9, 2021: -The Huawei chairman said that the Chinese technology company’s “aim is to survive” as revenue came down to 30% this year.

The Shenzhen-headquartered company, from the U.S. trade blacklist in 2019, announced on Friday that it had generated 320.4 billion yuan in revenue at the beginning of 2021. It’s a significant decrease from the 454 billion yuan that Huawei recorded in 2020.

Huawei said its profit margin increased 0.6% to 9.8%, primarily due to efficiency improvements, and also said that the overall performance was in line with forecasts.

Eric Xu, Huawei’s rotating chairman, said that the company had set its strategic goals for the next five years.

“We aim to survive and to do so sustainably,” he said.

Former U.S. President Donald Trump put Huawei on an export blacklist in 2019, stopping American firms from working with it. For example, Google was not allowed to license its Android mobile operating system to Huawei.

The blacklist stops U.S. companies from selling or transferring technology to Huawei permanently unless they are granted a special license. It has hampered the ability of Huawei to design its chips and source other components.

Xu said in April that Huawei has ramped up its research and development investment as part of its efforts to “keep the company afloat, to address supply continuity challenges caused by U.S. bans, and to pursue sustainability well into the future.”

Huawei said year-on-year revenue for the consumer business was 255.8 billion yuan and dropped to 135.7 billion yuan, blaming the decline on the sale of its Honor business at the end of 2020.

Its carrier business, which sells 5G and other telecommunications infrastructure, saw first-half revenue slip to 136.9 billion yuan from 159.6 billion yuan in the first half of 2020.