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GUANGZHOU, China- The revenue growth of Huawei shockingly slowed down last year. A result of the U.S. financial fallout and sanctions impact during the COVID-19 weighed on this Chinese technology giant. 

Huawei’s Growth Dramatically Slowed Down in 2020 after U.S. Toll Sanctions

According to the revenue generation figure, in 2020 the total amount of revenue collected 891.4 billion yuan ($136.7 billion) that is a yearly rise of 3.8% in yuan terms. In 2019, Huawei has an eye-witnessed 19% more growth rate than the year 2020. 

Huawei’s Growth Dramatically Slowed Down in 2020 after U.S. Toll Sanctions

In the world, China is the one and only area where Huwaei access that saw positive revenue rise. The sales margin of this company in China was 584.9 billion yuan ($89.7 billion) in all total. It is yearly growing with a 15.4% rate and accounting for more than 65% of the entire revenue. China’s financial stands grew in 2020 as the nation managed to widely contain this COVID-19 virus. However, other vital economies noticed shrinkages as this pandemic situation rapidly sweep across the globe, and several nations approved the lockdown strategy in differing degrees. 

In 2020, Huwaei’s net profit amount was 64.6 billion yuan ($9.9 billion) that indicates a 3.2% yearly raise. The U.S. government has indirectly slapped Huawei with different sanctions cases over these last two years. Washington takes this Chinese telecommunications giant as a national safety threat, this statement has claimed that Huwaei has continuously denied it. The U.S. government has put Huwaei among their blacklist names in 2019, which they call the Entity list. Therefore, American organizations get bounded from exporting any particular technologies to Huawei.

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Huawei’s Growth Dramatically Slowed Down in 2020 after U.S. Toll Sanctions

Anshul Sharma
Author

Being the Co-Founder of Fluper, one of the Leading App Development Companies, Mr. Anshul Sharma has a wide-ranging experience in Business Growth. He has paved his own path as an extremely intensive product strategist and user experience proficient entrepreneur. His keen interest in the tech updates urges him to write about the latest tech news and make other businesses or enterprises aware of the changing market scenario.

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