Huawei, which is under US sanctions, announced that its revenue fell by 29% in 2021. Therefore, it is one of the worst financial periods for the Chinese OEM. Due to the reluctance of the US government to lift or reduce sanctions, the same trend is expected to repeat in 2022 for Huawei.
See also: Huawei Cloud: Target of updated cryptomining malware
The sanctions specifically target the sale of all Huawei products worldwide. Huawei also has no access to hardware and software made by American companies.
Huawei's CEO has previously stated that chip supply is one of their main concerns. Due to sanctions, Huawei was forced to use 4G Snapdragon instead of 5G in its products.
See also: Huawei may be forced to use Qualcomm chips
According to the company's announcement, they earned $99.5 billion in 2021, which shows a 29% decrease compared to last year.
See also: Huawei: Launches its HarmonyOS operating system for smartphones
“In 2021, despite all the challenges, we worked hard to create tangible value for our customers and local communities,” Huawei’s rotating chairman Guo PingGuo said in an official statement. “We improved the quality and efficiency of our operations and expected to end the year with total revenue of 634 billion yuan.”
Information source: androidheadlines.com
