The leading Chinese telecom company Huawei said that ‘survival’ is its first priority in 2020. The company was hit hard due to the boycott from western countries.
The chairman of the company Eric Xu said that the estimated sales revenue will reach 850bn yuan for 2019. It is 18% more than the previous year, however much less than the initial expectation.
The forecast sales revenue of the company in January 2019 was US$125 billion. Xu, in new year’s message, addressed to the employees said that the US government was in the midst of a “strategic and long-term” campaign against Huawei that will create a “challenging environment for Huawei to survive and thrive”.
Xu who holds the chairmanship under Huawei’s rotating leadership scheme said, “Survival will be our first priority” in 2020.
Huawei needs to “go all out” to develop up its mobile services ecosystem, its answer to Google apps and services to “ensure that we can keep selling our smartphones in overseas markets”.
Even though telecom experts call Huawei a global leader in the 5G equipment in terms of both technology and price, the company is facing pressure globally due to the suspicion and bans from the US and other foreign nations.
According to the intelligence chiefs in the US, Huawei cannot be trusted as it is a threat to the national security of the country.
Earlier the former People’s Liberation Army engineer Ren Zhengfei, Huawei came into limelight when his daughter senior company executive Meng Wanzhou got arrested in Canada at the request of the United States.
Media coordinator and junior editor at Research Snipers RS-NEWS, I studied mass communication and interested technology business, I have 3 years experience in the media industry.