Since U.S. sanctions were imposed on Huawei in March 2019, the company has seen a decline in its consumer division. Additionally, a delay in China’s 5G network rollout led to a decrease in revenue in its key carrier division, reported Mobile World Live.
Amid a 30 percent year-over-year revenue drop, Huawei’s rotating chairman Eric Xu said in a statement that results were in line with forecasts. “Despite a decline in revenue from our consumer business caused by external factors, we are confident our carrier and enterprise businesses will continue to grow steadily,” Xu said. “Our aim is to survive and to do so sustainably.”
Xu added that the company believes “deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now.” Mobile World Live noted that a Huawei representative said the company has no plans to scale back or reduce staff, continuing with its “current strategy” and on track “to hit our annual business target.”
Moving forward, Huawei is forecasting growth from its cloud business and software, including HarmonyOS. It has also begun offering intelligent vehicles at its Chinese experience stores, targeting sales of 300,000 cars in 2022, according to Mobile World Live.
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