London Daily

Focus on the big picture.
Sunday, Aug 30, 2026

Huawei expects 2021 revenue to drop by 28.9% as sanctions drag on

Huawei expects 2021 revenue to drop by 28.9% as sanctions drag on

Chinese telecommunications giant Huawei said Friday it expects revenue for this year will come in at 634 billion yuan ($99 billion), a 28.9% drop from a year ago.

The company has suffered from U.S. sanctions, the semiconductor shortage and a global slump in demand for smartphones.

The full-year estimate for 2021 indicates Huawei’s revenue for the second half of the year declined from that of the first six months to 313.6 billion yuan, from 320.4 billion yuan.

The company reported 891.4 billion yuan in revenue in 2020, up 3.8% from the previous year. That’s far slower than the 19.1% year-on-year increase reported for 2019, with revenue of 858.8 billion yuan.

Friday’s release came as part of an internal New Year’s message from Huawei Rotating Chairman Guo Ping, who focused on rallying employees to press on.

The letter did not specify reasons for the drop in expected revenue, but noted “serious challenges” from “an unpredictable business environment, the politicization of technology, and a growing deglobalization movement,” according to an English-language version seen by CNBC.

Guo added that “this past year, our carrier business remained stable, our enterprise business experienced solid growth, and our device business expanded swiftly into new business domains.”

For next year, Guo said the company’s aims include increasing efforts to build up and attract talent, and developing automotive-related technologies.

Last week, Huawei announced the first electric car with its HarmonyOS operating system would likely begin deliveries in late February.

Huawei typically releases its more detailed annual report in March.

Figures released for the first half of 2021 showed the two largest business segments, consumer and carrier, saw sharp year-on-year declines. The far smaller enterprise business, which has become central to Huawei’s growth strategy, grew by 6.6 billion yuan.

In 2019, former President Donald Trump’s administration put Huawei on a blacklist that restricted American companies from selling technology to the Chinese company, citing national security concerns. Huawei has denied it poses such a threat.

While those restrictions haven’t eased, other tensions between Huawei and the U.S. government have.

CFO Meng Wanzhou, daughter of founder Ren Zhengfei, returned to work at the company’s headquarters in Shenzhen this fall after reaching an agreement with the U.S. government regarding wire fraud charges.

Meng had fought extradition to the U.S. from Vancouver, where she was arrested in December 2018. She spent most of the last three years under house arrest, in which her 10 million Canadian dollar ($7.9 million) bail conditions allowed her to venture out during the day with security tracking.

Newsletter

Related Articles

0:00
0:00
Close
Genetic Study Finds Medieval Britain’s ‘Conquest Man’ Had Scandinavian Origins
Kemi Badenoch Plans Conservative Frontbench Reshuffle After Cleverly Departure
Nissan Sunderland Plant Highlighted as Key Economic Anchor for North East England
UK Arts Report Finds Women Face Persistent Barriers to Career Progression
Private Equity Consolidation of UK Veterinary Practices Raises Consumer Cost Concerns
South West Water Ranked Worst in England for Environmental Performance
British Train Drivers Secure 3.6% Pay Rise, Averting Strike Threat
UK Prosecutors Consider Charges Against Officers in Undercover Policing Scandal
James Cleverly Leaves Conservative Shadow Cabinet to Run for London Mayor
Allianz Explores £5 Billion Takeover of British Roadside Assistance Group AA
Bank of England Holds Interest Rate at 3.7% as Growth Stalls and Inflation Eases
UK Government Announces Electricity VAT Cut and £2 Bus Fare Cap
UK Officials Highlight 80 Years of Diplomatic Relations With Philippines
Heavy Rain Disrupts Parts of England After Weeks of Extreme Summer Heat
More Than 200 Extra Police Officers Deployed Across Cleveland After Violent Incidents
Burnham Meets Northern Ireland Leaders for Talks on Economy and Youth Employment
Burnham to Abstain From UK Assisted Dying Vote
NHS Leaders Warn of Severe Financial and Staffing Pressures Ahead of Autumn
UK Treasury Prepares October Budget as Defense and Public Spending Pressures Mount
Scottish Government Publishes Draft Bill for Second Independence Referendum
Royal Navy Tracks Russian Warships and Sanctioned Vessels in 72-Hour Operation
UK and Ukraine Agree AI-Focused Defense Technology Partnership
US Reportedly Weighs Falkland Islands Policy Shift to Pressure UK Over NATO Spending
UK Government Mobilizes Emergency Aid as British Nationals Remain Missing After Nepal Floods
UK Hospitality Industry Reports Stronger Summer Trading but Seeks Tax Relief
Reform UK Proposes £30 Tax Credit for Long HMRC Helpline Waits
Labour Debates Caps on Political Donations Ahead of Future Elections
England Accelerates Housing and Planning Reforms Amid Affordability Crisis
NHS Expands Walk-In Community Health Centers to 40 Locations
UK Regulators Expect Meta to Apply Stronger Child Safety Standards Globally
UK Groups Demand Faster Transport Decarbonization After Extreme Summer Weather
UK Launches 10,000 Work Experience Placements as Youth Unemployment Concerns Rise
UK Government Faces Difficult Autumn Budget Choices Over Defense, Spending and Taxes
UK Government Rejects Calls to Slow AI Data Center Expansion
IMF Raises UK Growth Forecast to 1% Despite Global Supply Chain Risks
UK Unsecured Loan Defaults Reach Highest Level Since 2009
UK Energy Price Cap to Rise 4% to Three-Year High of £1,723
More Than 30 Britons Reported Missing After Deadly Nepal-Tibet Floods
Royal Navy Tracks Russian Warships and Sanctioned Vessels in 72-Hour Operation
Police Intensify Investigation Into Organised Crime-Linked Violence in Middlesbrough
UK Small Businesses Face Continued Revenue and Tax Pressures, Federation Says
M&G Real Estate Buys West Sussex Affordable Housing Portfolio for £29 Million
Royal Navy Warship HMS Tamar Visits Cambodia for Regional Security Engagement
UK Government Brings Forward Benefit Payments Ahead of August Bank Holiday
Four Men Plead Guilty to Arson Attack on Jewish Community Ambulances in North London
Ofgem Raises Great Britain’s Household Energy Price Cap by Four Percent From October
UK Government Rejects Green Party Call for Artificial Intelligence Datacentre Moratorium
Millions of UK Benefit Recipients Receive Payments Early Ahead of August Bank Holiday
UK Prime Minister Meets Northern Ireland Leaders in Belfast Over Budget Crisis
Crypto Tax Gains Reach One Point Three Eight Billion Pounds Among UK Investors, HMRC Data Shows
×