Saudi Press

Saudi Arabia and the world
Wednesday, Jul 02, 2025

Huawei expects 2021 revenue to drop by 28.9% as sanctions drag on

Huawei expects 2021 revenue to drop by 28.9% as sanctions drag on

Chinese telecommunications giant Huawei said Friday it expects revenue for this year will come in at 634 billion yuan ($99 billion), a 28.9% drop from a year ago.

The company has suffered from U.S. sanctions, the semiconductor shortage and a global slump in demand for smartphones.

The full-year estimate for 2021 indicates Huawei’s revenue for the second half of the year declined from that of the first six months to 313.6 billion yuan, from 320.4 billion yuan.

The company reported 891.4 billion yuan in revenue in 2020, up 3.8% from the previous year. That’s far slower than the 19.1% year-on-year increase reported for 2019, with revenue of 858.8 billion yuan.

Friday’s release came as part of an internal New Year’s message from Huawei Rotating Chairman Guo Ping, who focused on rallying employees to press on.

The letter did not specify reasons for the drop in expected revenue, but noted “serious challenges” from “an unpredictable business environment, the politicization of technology, and a growing deglobalization movement,” according to an English-language version seen by CNBC.

Guo added that “this past year, our carrier business remained stable, our enterprise business experienced solid growth, and our device business expanded swiftly into new business domains.”

For next year, Guo said the company’s aims include increasing efforts to build up and attract talent, and developing automotive-related technologies.

Last week, Huawei announced the first electric car with its HarmonyOS operating system would likely begin deliveries in late February.

Huawei typically releases its more detailed annual report in March.

Figures released for the first half of 2021 showed the two largest business segments, consumer and carrier, saw sharp year-on-year declines. The far smaller enterprise business, which has become central to Huawei’s growth strategy, grew by 6.6 billion yuan.

In 2019, former President Donald Trump’s administration put Huawei on a blacklist that restricted American companies from selling technology to the Chinese company, citing national security concerns. Huawei has denied it poses such a threat.

While those restrictions haven’t eased, other tensions between Huawei and the U.S. government have.

CFO Meng Wanzhou, daughter of founder Ren Zhengfei, returned to work at the company’s headquarters in Shenzhen this fall after reaching an agreement with the U.S. government regarding wire fraud charges.

Meng had fought extradition to the U.S. from Vancouver, where she was arrested in December 2018. She spent most of the last three years under house arrest, in which her 10 million Canadian dollar ($7.9 million) bail conditions allowed her to venture out during the day with security tracking.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
×