The Chinese technology company Huawei expects sales to fall by almost 30 percent in 2021.
As the rotating CEO Guo Ping said in a New Year’s letter its employees announced that the company’s revenue is expected to reach 634 billion yuan ($ 87.8 billion) in 2021, down 28.9 percent from 2020. The company is expected to publish detailed business figures in March.
In his letter, Guo mentions an “unpredictable business environment” and a “politicization of technology” without, however, going into detail.
In 2019 the US Government under then-President Donald Trump imposed far-reaching trade sanctions on Huawei on grounds of threats to the national security of the United States. Huawei has since been prohibited from buying critical technology products from the USA.
PEKING (dpa-AFX)
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