Summary Bullets:
- Huawei posted modest growth in 2020 despite pandemic-related challenges; however, the company relied heavily on its domestic market while revenue outside China declined significantly.
- The Chinese market alone makes Huawei one of the largest ICT providers in the world; however, the company’s global supply chain will continue to pose significant challenges.
The 2020 annual report released by Chinese telecommunications vendor Huawei Technologies shows the company’s share of revenue coming from its home market rose sharply in 2020, increasing to nearly two-thirds of total revenue. In total, Huawei reported revenue of CNY 891.4 billion, or $136.7 billion, in 2020. The company managed to increase revenue nearly 4% compared to the prior year – an impressive feat in the midst of a global pandemic. Continue reading “Huawei Annual Report Shows Increasing Reliance on Home Market in Response to Geopolitical Challenges”