Huawei is one of the biggest corporations in the world. Based in China, the telecommunications company specializes in electronic devices that are sold across the globe. However, things aren’t so sunny for the company as of its latest earnings. Huawei has reported a concerning 29 percent drop in revenue in the first half of this year. In response to the poor performance, Huawei’s chairman said that the company’s goal at this point is “to survive.”
This week, Huawei reported its earnings for the first half of 2021. The company reeled in a rough total of 320.4 billion yuan ($49,417,759,080 USD). Though that’s undeniably a large chunk of change, this number is a sharp decrease from the 454 billion yuan ($70,022,826,200 USD) that the company made over the same time period last year. A near 30 percent drop is always cause for concern, especially for a company as big as Huawei.
When speaking on the numbers, CNBC reports that Huawei chairman Eric Xu said that currently, the company’s “aim is to survive.” The down year is certainly largely thanks to the pandemic, as it’s hurt a countless number of companies around the world. Things will likely get better if cases begin to subside, and Huawei is just hoping to still be operating when that time comes.
Xu also said that the team is looking to “keep the company afloat, to address supply continuity challenges caused by U.S. bans, and to pursue sustainability well into the future,” citing the company’s ban in the United States as one of its leading issues.
Huawei’s revenue is down 29 percent, and the company is simply looking to survive until conditions improve. For more on the financial world, stick with us here on Shacknews.
Donovan Erskine posted a new article, Huawei says their 'aim is to survive' as revenues fall 29% from first half of 2020
Hmm. Won't it inevitably be bailed out by the CPC?