Monday. 04.03.2024

Chinese technology company Huawei expects sales to fall by almost 30% in 2021.

Guo Ping, one of the company's rotating chief executives, announced in a New Year's letter to his employees that the company's revenue in 2021 is expected to be 634 billion yuan (100 billion dollars), down 28.9 per cent compared to 2020.

The company is expected to publish detailed business figures in March.

Guo's letter mentions an "unpredictable business environment" and "politicization of technology," but does not elaborate.

In 2019, the US government, under then-president Donald Trump, imposed sweeping trade sanctions on Huawei, citing threats to US national security.

Huawei has since been banned from buying critical technology products from the US.

China's Huawei expects sharp drop in sales for 2021