Huawei sees 29 per cent drop in 2021 sales after two years of US trade sanctions, as it moves deeper into digital services

Huawei Technologies Co expects a 28.9 per cent decline in total revenue to 634 billion yuan (US$99.4 billion) for 2021, with two years of US trade sanctions wreaking havoc with the Shenzhen-based tech giant’s lucrative smartphone business.

Huawei’s rotating chairman Guo Ping said in a new year’s message to employees on Friday that uncertainties in the business environment, the politicisation of technology and a deglobalisation trend pose major challenges for Huawei, but the company nevertheless needs to stick with its current strategy.