Strong at home, but sucked at others
Ever since the US blacklisted Huawei over security concerns, the victim firm has lost many mobile spares partners from the US, yet, it thrived in its homeland. Though Huawei denied US claims of spying people and authorities through its devices, the US demanded its domestic firms to cut ties and even advised other nations the same. This led Huawei to cripple for a while and invent its own resources as self-aid. These actions since May last year led the Chinese to feel cruel enough and waking their emotions to push support Huawei in their homeland. This worked out, as Huawei has seen a 34% jump in consumer sales last year. The firm captured more of the smartphone market share from 27% to 38.5%. It’s another lucrative offering, 5G to have seen an uprise in recent quarters, but other segments have declined substantially. The firm recorded its lowest net profit of 62.9 billion Yuan (down by 25%) which is lowest in three years. It spent over 130 billion Yuan last year which gave birth to iOS and Android alternative, HarmonyOS. Huawei has built its own Appstore, OS, and apps to avoid relying on American firms. This led the company’s latest flagships manufactured without a single component from the US. Charmain Xu predicted the year 2020 would be hard due to US sanctions, yet, he warns about potential reverting. At the launch of the annual report meeting, Eric Xu told Via: Reuters
