The Chinese technology company Huawei expects sales to fall by almost 30 percent in 2021.
Rotating CEO Guo Ping announced in a New Year’s letter to his employees that the company’s revenue is expected to reach 634 billion yuan in 2021, down 28.9 percent from 2020. Detailed business figures will be the enterprise expected to be published next March.
“Politicization of Technology”
In his letter, Guo mentions an “unpredictable business environment” and a “politicization of technology”, but without going into detail.
Huawei and Trump’s sanctions
In 2019, the US government under then-President Donald Trump imposed far-reaching trade sanctions on Huawei that were based on threats to the national security of the United States. Huawei has since been banned from buying critical technology products from the United States.
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