Chinese telecom giant Huawei admits its mobile phone business is still reeling under US sanctions. Washington imposed the ban in 2019, considering Huawei's products a risk to national security. News BBC.
Huawei chairman Ken Hu noted the impact of the US sanctions, saying the sanctions had hurt the company.
Hu said their business suffered huge losses in 2020 and the company's revenue fell sharply. Prohibitions have made life very difficult for us.
In June 2019, the United States imposed sanctions on China's Huawei. At that time, their smartphone sales in the global market decreased by 40 percent. But they claim that their smartphones are being sold in the Chinese market and that their business will pick up again by 2021.
Last year, Huawei's overall revenue from the Chinese market rose 3.6 percent to হাজার 13.7 billion. Of this, their profit has increased by 3.2 percent to ৯ 9.9 billion.
Huawei is diversifying its chip stocks and investment and supply chain in the R&D sector to ward off the effects of US sanctions. It is also reported that China is trying to build chips locally with its own technology. China has made building the most advanced chips internally its top priority.