Huawei ‘forging forward’ despite US sanctions

Huawei 'forging forward' despite Trump sanctions
Disruptions in manufacturing caused by coronavirus pandemic were also to blame. Source: GETTY IMAGES
2 Min Read

Daily US Times: Chinese tech giant and one of the biggest phone makes in the world Huawei said it was doing its best “to survive and forge forward” despite US sanctions.

Huawei is one of a handful of Chinese tech firms targeted by US President Trump on the grounds of national security.

The company had been busy stockpiling its supply of microchips before a US trade ban came into effect in September.

Huawei said on Friday that it’s revenues for the first three quarters of 2020 were 9.9% higher than the same period last year.

But it said its ability to find component parts such as microchips has been “put under intense pressure and its production and operations saw increasing difficulties”.

Disruptions in manufacturing caused by coronavirus pandemic were also to blame.

During January to September this year, the Chinese tech firm generated 671.3bn Chinese Yuan ($100bn; £77bn) in revenue.

The Trump administration put Huawei on its blacklist last year and put pressure on other countries to exclude Huawei from their next-generation 5G networks.

The United States now requires any company that sells Huawei products made anywhere with US technology to obtain a licence.

Huawei, one the largest telecom equipment manufacturers in the world, said it was hopeful some chipmakers will apply for licences and was willing to work with partners to replenish its supplies.

Going forward, the Chinese tech company said it would focus on technologies such as Artificial Intelligence (AI) and cloud “and unleash the value of 5G networks along with its partners”. The US sanctions put upon the company based on national security issue, according to the Trump administration.

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