Huawei, a Chinese multinational company and the second-largest smartphone maker after Apple, selling telecommunications and electronic equipment, is pretty much contented regarding its record revenue in 2019. The company, despite facing strong resistance from the US government campaigning against the global business of the company, managed to prove its worth in 2019.
As such, the US government put Huawei into the blacklist of the US Commerce departments and also placed restrictions on the company’s abilities on maintaining trade relations with American companies. The US government also went to the extent of prohibiting the allied companies from using Huawei’s products in building their next-gen infrastructure, alleging that the company poses a serious threat to the national security of the US. However, not all US allies turned up to this advice and India is one of those that welcomed the technological innovations brought in by Huawei. In this regard, Jay Chen, the CEO of Huawei in India, said,
We thank the Indian Government for their continued faith in Huawei. We firmly believe that only technology innovations and high-quality networks will be the key to rejuvenating the Indian Telecom Industry.
The company’s revenue reached a record height of $122 Billion, which is around 850 billion Chinese Yuan, which rose by 18% from the previous year. However, according to the company officials, next year could pose a series of challenges for the company and they are in the positions of bolstering their endeavors to face the challenges as they come.
In connection to this, Eric Xu, the rotating chairman at Huawei, said that the company sold 240 million handsets in 2019 as compared to the previous year when it sold only 206 million. He also admitted that Trump’s administration has been posing a “strategic and long term” campaign against the company’s business. Though the company managed to combat the resistance, if the campaign continues for long, then it will be difficult for the 32-year-old firm “to survive and thrive.”