Huawei’s 2019 revenue of $122 billion, up 18% YoY

On the morning of December 31st, the Financial Times reported that Huawei’s revenue in 2019 rose 18 per cent year-on-year to $122bn. Huawei shipped 240 million smartphones in 2019, up from 206 million a year earlier.

Huawei's 2019 revenue of $122 billion, up 18% YoY

On February 20, Huawei Voice Community released the minutes of an interview with the Los Angeles Times on November 18. In the interview, Mr. Ren said that 2020 would be a year-round survival for Huawei under U.S. sanctions, which would give the world more knowledge that Huawei would survive very well under strong U.S. sanctions.

He predicts that Huawei should continue to grow in 2020, but not too much, “the growth rate has fallen to 17% in October, and is expected to be around 10% in 2020, which is probably the lowest estimate, and perhaps a little better.” ”

Mr Ren said he expected Huawei to start growing at scale in 2021, but the company’s senior team believes it is “personally at odds with the top team” to restore scale growth by 2022. ”

In addition, Ren Zhengfei also revealed that Huawei after the U.S. government sanctions, the company successfully cut 48 percent of its departments in the research and development system, closed 46% of unnecessary research. He said the company has shifted the savings to the product spaceline to improve the development capabilities of the main waterway products.

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